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Ferratum offers to swap 8%, 4% bonds due 2018 for floaters due 2022
By Marisa Wong
Morgantown, W.Va., May 8 – Ferratum Oyj announced that its subsidiary, Ferratum Capital Germany GmbH, is inviting holders of its €25 million 8% bonds 2013/2018 and its €20 million 4% bonds 2017/2018 to exchange their bonds for new bonds to be issued by Ferratum Capital Germany.
The exchange bonds will be issued under Ferratum Capital Germany’s up to €100 million floating-rate bonds due 2022 consisting of up to 100,000 bonds in bearer form, all ranking pari passu, and each with a nominal value of €1,000. Interest is payable quarterly at Euribor plus a margin of at least 450 basis points, subject to a 0% Euribor floor. The margin will be determined through a bookbuilding.
Holders of the 2013 or 2017 bonds who wish to participate in the exchange offer must submit their offer in writing to the relevant custodian by noon ET on May 17.
Ferratum said conditions and restrictions of the exchange offer are available on its website, www.ferratumgroup.com.
Ferratum is a Helsinki, Finland, provider of short-term consumer loans via digital media.
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