By Abigail W. Adams
Portland, Me., Nov. 6 – International Personal Finance plc priced €341,228,000 9¾% senior notes due Nov. 12, 2025 (Ba3/BB-) at 99 to yield 10.014% with 1% of the original issue discount to be paid in cash, according to a market source.
The notes have two years of call protection.
The notes were priced in exchange for €412 million of the company’s 5¾% senior notes due 2021.
HSBC., Jefferies LLC and Santander Investment Securities Inc. were dealer managers for the exchange.
International Personal Finance is a Leeds, U.K.-based home credit and digital business.
| Issuer: | International Personal Finance plc
|
| Amount: | €341,228,000
|
| Maturity: | Nov. 12, 2025
|
| Securities: | Senior notes
|
| Bookrunners: | HSBC, Jefferies LLC and Santander Investment Securities Inc.
|
| Co-managers: | ABG Sundal Collier and Peel Hunt
|
| Coupon: | 9¾%
|
| Price: | 99
|
| Yield: | 10.014%
|
| Call protection: | Two years of call protection
|
| Trade date: | Nov. 6
|
| Settlement date: | Nov. 12
|
| Ratings: | Moody's: Ba3
|
| S&P: BB-
|
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