PlusPlus announces terms of Buyback offer for EUR 2022/2026 Bonds

Tallinn, Estonia, 11 October 2023. PlusPlus Capital ("PPC"), a leading Pan-Baltic and Finnish technology-driven receivables management group, has entered into a framework agreement for the financing of the Company. The financing includes a repurchase of the EUR 2022/2026 Notes to restructure its operations in order to restructure its existing debt and obtain new financing for the further implementation of its business plan. A prerequisite for the implementation of the financing by the end of this year is a successful agreement regarding the interest payments on the EUR 2022/2026 bonds outstanding since 31 July 2023. Therefore, part of the financing is an offer for the partial repurchase of the EUR 2022/2026 bonds at a discount of 45% on the nominal value with the price of EUR 550 per note plus accrued interest until 31 July 2023. The buyback will be done until the end of December 2023.

The settlement date for the discounted buyback offer is prior to 31 December 2023, but after the payment of interest payable to the bondholders as of 31 July 2023. In case the discounted buyback offer is executed for any reason before the interest is payable to the bondholders, the discount will be reduced to 39.5%.

The period for accepting the offer is from 11 October until 27 October 2023.

For bondholders who do not accept the discounted buyback offer, the current terms will continue to apply, with repayment of the bond expected at maturity.

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

Contact:

PlusPlus Capital AS
Kaarel Raik, Member of the Management Board
Email: kaarel.raik@plusplus.ee
Phone: +372 56 606 148

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.

Since its inception in 2010, PlusPlus has bought over 120 thousand claims with nominal value of approximately EUR 300 million. The Company offers its clients affordable recovery solutions and aims to avoid litigious scenarios. In doing so, PlusPlus pursues win-win solutions that allow sellers to focus on their core business, provide affordable solutions for borrowers, and ensure adequate returns for investors.

PlusPlus is a transparent and socially responsible company set to assist people in resolving problems connected with their insufficient solvency. The ambition of PlusPlus is to increase its market share and further strengthen its position as a leading player in its regional market.

pluspluscapital.eu