Iute tightens issue price for public offering of EUR 2021/2026 bond

Iute tightens issue price for public offering of EUR 2021/2026 bond

Tallinn, Estonia, 13 March 2023. IuteCredit Europe (“ICE”), a leading European personal finance group, through its fully owned subsidiary IuteCredit Finance S.á r.l today tightened the issue price for the public offering of the new EUR 2021/2026 bonds. The new EUR 2021/2026 bonds will be offered for subscription at an issue price of 96.5% to 97.5% per bond with an interest rate of 11.0% p.a. payable semi-annually. The yield to maturity for public offer-related bonds will be in the range of around 12%. Investors can subscribe to the bonds through their custodian banks until 31 March 2023. The issuing price of the new EUR 2021/2026 bonds is expected to be conclusively determined and announced on 31 March 2023 on the basis of the subscription offers received. The exchange offer to holders of the EUR 2019/2023 bonds will continue unchanged until 29 March 2023, 13:00 CET. A shorter period may apply to the bondholders' custodian banks. The objective is to refinance the EUR 2019/2023 bond and to tap the EUR 2021/2026 bond by up to EUR 50 million.

PUBLIC OFFER

• Subscription period for public offer to retail investors in Estonia, Latvia, Lithuania, and Germany until 31 March 2023.
• Subscription offer new EUR 2021/2026 bonds with issue price from 96.5% to 97.5% per bond with semi-annual interest payable at 11.0% p.a.
• Yield to maturity for public offer-related bonds in the range of around 12%.

EXCHANGE OFFER

• Exchange offer period for holders of the EUR 2019/2023 bonds continues until 29 March 2023, 13:00 CET.
• A shorter period may apply to the bondholders' custodian banks.
• Exchange offer-related new EUR 2021/2026 bonds offered at 96.5% per bond and with cash settlement to nominal value (EUR 35.00 per exchanged bond) with interest rate of 11.0% p.a. payable semi-annually.
• Additional attractive exchange premium of 1.0% (EUR 10.00 per bond exchanged).
• Cash payment of accrued interest for period 7 February to 6 April 2023.
• Yield to maturity for exchange offer-related bonds of 12.6%.
• Exchange ratio 1:10, as a result of different denominations of the bonds, i.e., EUR 2019/2023 bond denominated at EUR 1,000.00 each, EUR 2021/2026 at EUR 100.00 each.

The securities prospectus approved by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg is available on the Company's website at: https://iutecredit.com/investor/#bonds.

All information on the offering process as well as the documents required for the subscription of the bonds are available on the Company's website under the link https://iutecredit.com/investor/#bonds.

Contact:

Kristel Kurvits, Group Chief Financial Officer (CFO)
Email: investor@iutecredit.com
Phone: +372 622 9177

About IuteCredit Group:

Iute Group is a fintech company established in 2008 in Estonia. The Group specializes in consumer finance, payment services, banking, and insurance products. It serves customers in Albania, Bosnia and Herzegovina, Bulgaria, Moldova, and North Macedonia. Iute Group finances its loan portfolios with equity, deposits, and secured bonds on the Regulated Market of the Frankfurt Stock Exchange and the Nasdaq Baltic Main List.

www.iutecredit.com

IMPORTANT INFORMATION

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or any other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Persons into whose possession this announcement may come are required to inform themselves of and observe all such restrictions.

This announcement does not constitute an offer of securities for sale in the United States. The bonds have not been and will not be registered under the Securities Act or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This announcement does not constitute a prospectus for the purposes of Directive 2003/71/EC, as amended (the “Prospectus Directive”) and does not constitute a public offer of securities in any member state of the European Economic Area (the “EEA”).

This announcement does not constitute an offer of bonds to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the bonds. Accordingly, this announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this announcement as a financial promotion may only be distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “Relevant Persons”). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.