TIDMIPF
RNS Number : 3265Z
International Personal Finance Plc
16 May 2019
The information contained herein may only be released, published
or distributed in the United Kingdom, the Isle of Man, Jersey and
the Bailiwick of Guernsey in accordance with applicable regulatory
requirements. The information contained herein is not for release,
publication or distribution in or into the United States,
Australia, Canada, Japan, South Africa, the Republic of Ireland or
in any other jurisdiction where it is unlawful to distribute this
document.
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014.
SEE "IMPORTANT INFORMATION" BELOW
16 May 2019
INTERNATIONAL PERSONAL FINANCE PLC
PUBLICATION OF FINAL TERMS AND LAUNCH OF 7.75 PER CENT. STERLING
NOTES DUE 2023
International Personal Finance PLC (the "Issuer" or "IPF"), the
holding company for a leading international home credit and digital
provider of consumer finance, has today launched an offer of
unsecured sterling denominated 7.75% notes due 14 December 2023
(the "Notes"). The Notes are available to retail investors in the
United Kingdom and are being issued by IPF for general corporate
purposes.
The Notes will bear interest at a fixed rate of 7.75% per annum,
payable semi-annually in arrear in two equal instalments on 14 June
and 14 December each year and will be redeemed (subject to and in
accordance with their terms and conditions) at their nominal value
on 14 December 2023. Holders of Notes should, in most normal
circumstances, be able to sell their holdings during normal trading
hours (subject to market conditions) on the open market through
their stockbroker.
The Notes are expected to be rated Ba3 by Moody's Investors
Service Limited and BB by Fitch Ratings Ltd.
City & Continental Ltd and Peel Hunt LLP are appointed as
Joint Lead Managers in relation to the offering.
The Notes have a minimum initial subscription amount of GBP2,000
and are available in multiples of GBP100 thereafter.
The offer period is now open and is expected to close at 12 noon
(London time) on 7 June 2019. IPF retains the right to close the
offer early, in conjunction with the Joint Lead Managers. The Notes
are due to be issued on 14 June 2019 (the "Issue Date").
The Notes are expected to be listed on the Financial Conduct
Authority's Official List and admitted to trading on the London
Stock Exchange's regulated market and through the electronic Order
Book for Retail Bonds (ORB) segment.
A copy of the Final Terms for the Notes has been submitted to
the National Storage Mechanism and will shortly be available for
inspection at: http://www.morningstar.co.uk/uk/nsm.
Commenting on the launch, Gerard Ryan, Chief Executive Officer
of IPF said: "IPF plays an important role in providing credit to
more than two million customers across 11 markets, through our home
credit and digital lending businesses. IPF has always operated with
a strong balance sheet and funding position, with a range of both
wholesale and retail bonds across a number of currencies and a
range of bank facilities from a core group of international banks.
We first accessed the sterling retail bond market in 2013, and this
new transaction forms part of our long-established debt funding
strategy of maintaining a diversified portfolio of debt facilities,
and extending our debt maturity profile to ensure long-term funding
for the development of our business."
-Ends-
For further information, please see IPF's website:
www.ipfin.co.uk.
For enquiries, please contact:
International Personal Finance plc
Nick Dahlgreen (General Enquiries) +44 (0) 113 285 6921
Rachel Moran (Investor Relations and media enquiries) +44 (0) 113 285 6798/
+44 (0) 7760 167637
FTI
Neil Doyle +44 (0) 203 727 1141/
+44 (0) 7771 978 220
Antonia Powell +44 (0) 203 727 1486/
+44 (0) 7970 662 429
Notes to Editors
-- International Personal Finance plc (IPF) specialises in
providing unsecured consumer credit to more than two million
customers across 11 markets. It operates the world's largest home
credit business and a leading fintech business, IPF Digital.
-- The award-winning business serves small sum, unsecured
consumer loans and lines of credit responsibly to customers in
Europe, Mexico and Australia who are underbanked or underserved by
mainstream credit operators. The home credit channel serves
customers who appreciate the face-to-face, at-home service provided
by agents, while its digital channel serves customers who prefer to
take out credit online and repay remotely.
-- IPF has been listed on the London Stock Exchange since July
2007 and is a member of the FTSE Small-Cap Index. It also has a
secondary listing on the Warsaw Stock Exchange.
-- In 2018, IPF reported credit issued of GBP1360.6 million,
revenue of GBP866.4 million and delivered profit before tax of
GBP109.3 million.
-- IPF has been included in the FTSE4Good index for more than a
decade and awards won by its operations recognise the business for
its customer service excellence, being a leading employer and a
responsible lender.
-- IPF is rated Ba3 (Stable outlook) by Moody's and BB (Stable outlook) by Fitch Ratings Ltd.
-- The Issuer has, by way of a separate announcement, today
separately invited holders of its outstanding sterling denominated
6.125% bonds due 2020 (ISIN: XS0919406800) to offer those bonds in
exchange for notes to be issued on the Issue Date and which will
form a single series with the Notes issued pursuant to the offer
that is the subject of this announcement.
-- IPF previously raised GBP101.5 million in 2013 through a
retail eligible bond admitted to trading on the London Stock
Exchange.
-- For more information please visit: www.ipfin.co.uk
IMPORTANT INFORMATION
This announcement is released by International Personal Finance
PLC and contains information that qualified or may have qualified
as inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 (MAR), encompassing information
relating to an exchange offer, as described above. For the purposes
of MAR and Article 2 of Commission Implementing Regulation (EU)
2016/1055, this announcement is made by James Ormrod, Chief Legal
Officer for International Personal Finance plc.
The Final Terms must be read in conjunction with the base
prospectus dated 12 April 2019 relating to the Issuer's Euro Medium
Term Note Programme, as supplemented by a supplementary prospectus
dated 7 May 2019 (together, the "Base Prospectus"), which
constitutes a base prospectus for the purposes of the Prospectus
Directive (as defined below). The Base Prospectus is available for
viewing at
https://www.ipfin.co.uk/en/investors/debt-funding-information.html.
Please note that the information contained in the Final Terms
and the Base Prospectus may be addressed to and/or targeted at
persons who are residents of particular countries (specified in the
Final Terms and/or Base Prospectus) only and is not intended for
use and should not be relied upon by any person outside these
countries and/or to whom the offer contained in the Final Terms or
the Base Prospectus is not addressed. Prior to relying on the
information contained in the Final Terms or the Base Prospectus you
must ascertain from the Final Terms or the Base Prospectus (as
applicable) whether or not you are part of the intended addressees
of the information contained therein.
The distribution of this announcement and other information in
connection with any offer of securities and/or the solicitation of
offers for securities in certain jurisdictions may be restricted by
law and persons who come into possession of this announcement or
any document or other information referred to herein should inform
themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the
securities laws of any jurisdiction.
This announcement does not constitute or form part of any offer
or invitation to sell, or any solicitation of any offer to purchase
any securities. This announcement does not constitute and shall
not, in any circumstances, constitute a public offering nor an
invitation to the public in connection with any offer within the
meaning of Directive 2003/71/EC (as amended and as implemented by
relevant Member States of the EEA, the "Prospectus Directive"). Any
offer and sale of any securities will be made in compliance with
the requirements of the Prospectus Directive.
Any securities referred to herein will not be registered under
the U.S. Securities Act of 1933 (the "Securities Act"). Subject to
certain exceptions, such securities may not be offered, sold or
delivered within the United States or to, or for the account or
benefit of, U.S. persons. The Notes, which are in bearer form, are
subject to U.S. tax law requirements. Any securities referred to
herein would be offered and sold outside of the United States in
reliance on Regulation S of the Securities Act. There will be no
public offering in the United States.
Legal Entity Identifier: 213800II1O44IRKUZB5
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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