Chairman Lindfors says the Group's funding base is increasing to meet demand as
all Euroloan markets are growing rapidly
Helsinki, Finland, 2017-11-21 10:32 CET (GLOBE NEWSWIRE) --
Euroloan Group PLC today announced the repayment of a EUR 15 million bond (ISIN
code FI4000180351), that had a maturity of 24 months and a coupon of 6%.
"We have over ten years of operation built up a level of trust with our
investors", says Tommi Lindfors, Chairman of the Board of Euroloan Group PLC.
Euroloan has now issued three new bonds, in total EUR 90 million, to keep up
with the rapid growth in its markets.
"Although a minor milestone, this small repayment compared to the new bond
issues is a concrete example of how much we have grown over the last few years.
We intend to grow a lot more in the future."
"All our markets are growing at an unprecedented pace, and future prospects for
further growth are even better. In the pay by invoice and lending business,
fast growth means that more funding is required to keep up with demand. This is
why we have issued these three new bonds to complement our existing facilities
and an ongoing EUR 40 million equity round."
In May this year Euroloan announced the doubling of its structured financing
facility with Fortress Investment Group LLC (NYSE:FIG) from EUR 60 million to
EUR 120 million. In June, the group strengthened its equity by EUR 5 million
through crowdfunding.
The new bonds are:
1-year bond:
-- Euroloan Group 4/2017 (ISIN Code FI4000292271)
-- Maturity 14.11.2018
-- Size EUR 30 million
-- Coupon 5 %
2-year bond:
-- Euroloan Group 5/2017 (ISIN Code FI4000292289)
-- Maturity 14.11.2019
-- Size EUR 30 million
-- Coupon 6 %
5-year bond:
-- Euroloan Group 6/2017 (ISIN Code FI4000292297)
-- Maturity 14.11.2022
-- Size EUR 30 million
-- Coupon 9 %
Disclaimer:
This material is for information purposes only. The information contained
herein does not constitute a public offer of securities under any applicable
legislation or an offer to sell or solicitation or an offer to buy any
securities or financial instruments or any advice or recommendation with
respect to such securities or other financial instruments.
About Euroloan
Euroloan Group PLC is a rapidly growing international group, specialized in
highly automated financial services and financial technology (FinTech).
Utilizing advanced algorithms, machine learning and true end-to-end automation,
the Group offers consumer loans, credit cards and merchant payment solutions on
Euroloan's secure cloud-based platform.
More information about Euroloan Group is available at www.euroloan.com, Finland
www.euroloan.fi, Sweden www.euroloan.se and Poland www.euroloan.pl.
For more information, please contact:
Jonas Lindholm
Euroloan Group Plc
Tel +358 10 217 1003
Email: investor@euroloan.com© 2017 GlobeNewswire
