April 5, 2019
ExpressCredit revokes offered exchange of existing public bonds (ISIN LV0000801322)
On March 27, 2019, SIA ExpressCredit announced an offer to the holders of existing public bonds (LV0000801322) to exchange their bonds for a new private placement bond. The conditions of the new issue defined that the capital raised will be used to refinance the existing liabilities, and to make it more convenient for the existing investors, ExpressCredit SIA offered to exchange the bonds at a ratio of 1:1. The corporate event was set to execute on April 5, 2019.
Taking into account that the corporate action was based on the issue terms approved by SIA ExpressCredit shareholders on 18 March, 2019 with amendments on 25 March, 2019 and, since the subscription due on April 3, 2019 did not reach the set total issue amount, the corporate event for exchanging the securities is revoked.
Based on the interest of investors, during April, 2019 SIA ExpressCredit will amend issue terms of new private placement bond by setting new initial subscription period and prolonging whole subscription period to match potential needs of bond (LV0000801322) bond holders. For any further inquiries of bond holders who participated in the corporate action, please contact SIA ExpressCredit (firstname.lastname@example.org, phone +371 29144168).