PlusPlus starts to work on restructuring solution for bonds due 2026

Chicago, Sept. 19 – PlusPlus Capital Financial Sarl will host an adjourned bondholders meeting on Sept. 26 for bondholders of its euro-denominated bonds due 2026 (ISIN: XS2502401552), according to an announcement.

The company missed an interest payment on July 31.

There was already a meeting schedules for Aug. 29 to agree on a standstill period, but the meeting did not place due to a lack of a quorum.

So, the company is now working on a restructuring solution which may include a buyback offer of the bonds and securing funding for operational activities of the company over the coming years.

However, restructuring solutions will depend on whether bondholders decide against the termination of the bonds and if they instruct the security agent to enforce the guarantees.

The company is recommending against the termination of the bonds and the enforcement of the guarantees.

All the necessary documents for the voting are available on the website of PlusPlus Capital in the investor relations section under reports and presentations.

Tallinn, Estonia-based PlusPlus is a pan-Baltic and Finnish technology-driven receivables management group.

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