March 27, 2019
SIA ExpressCredit offers the holders of existing public bonds (ISIN LV0000801322) to exchange bonds
On March 18, 2019, and with amendments on March 25, 2019, the shareholders of SIA ExpressCredit decided to execute a new closed bond issue. The new unsecured bond issue will be made subject to the exceptions provided by the Financial Instruments Market law, which states that the offer may be made without preparing the prospectus. As part of the issue, the bond will be offered to a limited number of investors with the total issue volume up to EUR 7 million, a monthly coupon payment on the 25th day of the month, an annual interest rate of 14%, and a bullet redemption on April 5, 2022. The conditions of the closed bond issue define that the capital raised will be used to refinance the existing liabilities, and the new bonds will not be traded on the regulated market.
With this announcement, SIA ExpressCredit addresses the bondholders of the existing issue included in the public regulated market and provides the opportunity to exchange their existing public bonds ISIN LV0000801322 against new, closed issue bonds. Existing ISIN LV0000801322 bonds, at the time of the exchange, will be exchanged for the new closed issue bonds at a ratio of 1: 1, respectively, the nominal value of the bonds at the time of exchange for both ISIN LV0000801322 and the new closed issue bonds will be EUR 875 per bond.
Bond ISIN LV0000801322 bondholders who will exchange bonds will receive a 1% premium on the nominal value of their bonds owned at the time of exchange. The premium and accrued coupon on the bond ISIN LV0000801322 up to the exchange day (April 5, 2019) will be disbursed on April 25, 2019. Subsequent settlements for bonds ISIN LV0000801322, which will not be exchanged, will be made according to the procedure set out in their prospectus.
In order to apply for the bond exchange, the bond ISIN LV0000801322 bondholders must, from the date of this notice until April 3, 2019, apply to their bond custodian bank and submit an order in accordance with the Nasdaq CSD Corporate Events Rules. To get acquainted with the terms of the new closed issue, please contact SIA ExpressCredit (email@example.com, phone +371 29144168).