Chicago, July 5 luteCredit Finance Sarl placed a 10 million tap of its 11% bonds due 2026, according to a notice.
The total amount outstanding is 125 million.
Of the 10 million placement, 7.2 million was the result of an exchange with holders of the companys bonds due 2023 (ISIN: XS2033386603) who exercised their option to exchange their bonds at 96.5.
The yield to maturity for the exchange bonds was 12.3%.
Shareholders subscribed to the other 2.8 million.
The bonds will be listed in Frankfurt and on the Nasdaq Tallinn Stock Exchange.
Aalto Capital (Germany) acts as financial adviser to the group and was the contact person for the exchange offer.
The exchange offer ran from May 30 to July 3.
Tallinn-based lute Group is a fintech company established in 2008 in Estonia. The issuer is a subsidiary.
| Issuer: | luteCredit Finance Sarl
|
| Amount: | 10 million
|
| Issue: | Bonds
|
| Maturity: | 2026
|
| Coupon: | 11%
|
| Announcement date: | July 5
|
| ISINs: | XS2378483494
|
| Total amount outstanding: | 125 million
|
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