PlusPlus progresses in raising funds and plans voluntary buyback program following adjourned bondholders’ meeting

EQS-News: PlusPlus Capital Financial S.à.r.l. / Key word(s): Bond PlusPlus progresses in raising funds and plans voluntary buyback program following adjourned bondholders’ meeting 25.09.2023 / 11:00 CET/CEST The issuer is solely responsible for the content of this announcement. PlusPlus progresses in raising funds and plans voluntary buyback program following adjourned bondholders’ meeting Tallinn, Estonia, 25 September 2023. PlusPlus Capital (“PPC”), a leading Pan-Baltic and Finnish technology-driven receivables management group, intends to use the funds it is currently successfully raising in particular for a voluntary buyback program for its EUR 2022/2026 bonds following the adjourned Bondholders’ Meeting on 26 September 2023.

In addition, taking advantage of current favorable market conditions, part of the funds are to be used to actively purchase new portfolios that will generate cash flow to service and ultimately redeem the remaining bonds at maturity in 2026.

The combination of the two uses of funds offers bondholders the opportunity to redeem their positions early at a discount in 2023 or hold them to maturity while allowing the Company to resolve liquidity issues PlusPlus has faced since the market turmoil in 2022.

PlusPlus recommends that the bondholders decide against the termination of the Bonds and the enforcement of the Guarantees and the Transaction Security Documents in the adjourned bondholders meeting.

Prior to this, the bondholders' meeting originally scheduled for 29 August 2023 did not take place as the required quorum was not reached. However, PlusPlus notes that 81 percent of the votes cast were in favor of the Company's proposals.

All the necessary documents for the voting are available on the website of PlusPlus Capital:
https://pluspluscapital.eu/investor-relations/reports-and-presentation ...

Contact:

PlusPlus Capital AS
Kaarel Raik, Member of the Management Board
Email: [e-mail]
Phone: [phone]

About PlusPlus Capital:

PlusPlus is a pan-Baltic and Finnish technology-driven receivables management company with offices in Tallinn, Riga, Vilnius, and Helsinki. The Company acquires overdue loans and other non-performing exposures from financial institutions and non-financial sector merchants. With its core competence in handling claims against private individuals, PlusPlus prefers diversified portfolios balanced by geography, portfolio type, and other metrics.