4finance S.A. / Key word(s): Bond
7 June 2021. 4finance Holding S.A. (the "Group"), one of Europe's largest digital consumer lending groups, announces that it has cancelled $125 million of its USD 2022 bonds that were previously held in treasury. This represents over a third of the original issue, leaving $200 million of USD 2022 bonds outstanding.
The cancellation follows a series of bond buybacks and is part of 4finance's overall strategy for refinancing its remaining debt securities.
"Over the past year we have focused operational efficiency and cash generation. This prudent approach allowed us to repurchase more than $75 million of the USD bonds since last March alone," said 4finance CFO James Etherington.
"Cancelling these bonds now sends a clear signal that we have reduced debt levels, consistent with our more focused online business footprint. Combined with our return to profitability and the gradual opening up of economies across Europe, this sets the scene for us to establish our medium term capital structure."
For more information, please contact:
This announcement contains inside information as stipulated under the Market Abuse Regulation.
Certain statements in this document are "forward-looking statements". These statements are based
Established in 2008, 4finance is one of Europe's largest digital consumer lending groups with operations in 9 countries.
Leveraging automation and data-driven insights across the business, 4finance has grown rapidly, issuing over €8 billion since inception in instalment loans, lines of credit and single payment loans.
4finance operates a portfolio of market-leading brands offering simple, useful and transparent products to millions of customers. The Group provides convenient products in a responsible way to the many consumers who are often underserved by conventional providers.
The Group also offers deposits, in addition to consumer and SME loans through its TBI Bank subsidiary, an EU licensed institution with operations in Bulgaria and Romania.
07-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
8-10 Avenue de la Gare
Grand Duchy of Luxembourg
XS1417876163, SE0006594412, XS1092320099, XS1094137806,
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
EQS News ID:
End of Announcement
DGAP News Service