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4FINANCE HOLDING PRICES $325M BOND ISSUE AND ACHIEVES SUCCESSFUL REFINANCING

Bond over-subscribed by institutional investors attracted to the agility of 4finance’s fintech approach and industry-leading scale

4finance Holding S.A. (the “Group”), Europe’s largest online and mobile consumer lending group, has placed and priced USD325 million of senior unsecured 5 year fixed rate notes.These notes mature in 2022 and were issued with a 10.75% yield, at par.

Net proceeds from the bond issue will be used to refinance 4finance’s 2019 USD notes and to call its 2018 SEK notes, with the remaining funds for growth and general corporate purposes.  The successful refinancing tender for the 2019USD notes and the consent solicitation to amend terms on residual notes (including removal of the August 2017 put option) were completed with a 66% tender acceptance rate.

The new 5 yearissue represents a liquid benchmark offering, with the scale to attract over 50 investors and secures 4finance’s long term funding.

George Georgakopoulos, CEO of 4finance, commented:

The oversubscribed bond issue attracted interest from around the world, and was anchored by blue chip investors. Its success reflects the performance we have achieved in our mature markets and the strong interest our expansion into Latin America is attracting from investors. I’d like to welcome our new investors, large and small.” 

“4finance is a business of growing scale and we have underwritten over EUR4bn of consumer loans since our launch in 2008.

Our investment story reflects our ability to combine afintechcapability, with a responsible lending approach and appeal to millennials seeking convenient, transparent access to credit. We have fused the culture of a bank, with rigorous underwriting, prudence and careful regard for regulation, and that of a digital financial technology business, with its sharp focus on customer experience and innovation. This has resulted in an offering that competes with the established banks and provide real choice for consumers.”

These senior notes have a 5 year maturity with a 2 year non-call period and were offered on a Rule 144A / Reg S basis with ISINs XS1597295838 / XS1597294781 respectively. The bond was priced on April 12th, closing is expected on 28 April 2017.

Stifel Nicolaus Europe Limited acted as lead manager and sole bookrunner, with ABG Sundal Collier ASA as co-manager.