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UNI-EN: Summary of Eurobond refinancing
  • Data:

  • Firma:INTERNATIONAL PERSONAL FINANCE PLC

  • PAP

    Spis tresci:
  • 1. REPORT
  • 2. INFORMATION ABOUT THE ENTITY
  • 3. SIGNATURE OF PERSONS REPRESENTING THE COMPANY
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    Nie znaleziono zalacznikow.

    Nazwa arkusza: REPORT


    POLISH FINANCIAL SUPERVISION AUTHORITY
    UNI - EN REPORT No 16 / 2014
    Date of issue: 2014-04-03
    Short name of the issuer
    INTERNATIONAL PERSONAL FINANCE
    Subject
    Summary of Eurobond refinancing
    Official market - legal basis
    Art. 56 ust. 1 pkt 1 Ustawy o ofercie - informacje poufne
    Unofficial market - legal basis
    Contents of the report:
    3 April, 2014

    International Personal Finance plc

    Completion of new €300m (£250m equivalent) 7 year 5.75% Eurobond issue due 2021, and buy-back of €168.3m (£140.2m equivalent) of existing 11.5% Eurobonds due 2015

    As part of its strategy to reduce cost, extend term, and diversify sources of debt funding, IPF is pleased to announce that it has completed a new €300m (£250m equivalent) 5.75% 7 year Eurobond issue due 2021. In a related process, IPF has bought back €168.3m (£140.2m equivalent) of its existing 11.5% Eurobonds due 2015, at a price of 113.5. The buy-back is expected to result in an exceptional cost of approximately £20m. The €56.7m (£47.3m equivalent) of the existing 11.5%Eurobonds due 2015 remain outstanding.

    IPF has previously stated that its equity to receivables ratio target (currently 50%) remains under review, and that a catalyst for updating the capital ratio would be a reduction in funding costs following a refinancing of the core Eurobond, and stable macro-economic conditions. Having completed the Eurobond refinancing, IPF is now reviewing this target ratio, and will update the market in due course.

    Commenting on the transaction, Adrian Gardner Chief Financial Officer, said “This is an important step in achieving our debt funding objectives. The halving of the interest rate to 5.75%, a reduction of 575 bps compared to the 11.5% Eurobond issued in 2010, continues the trend of materially reducing our cost of debt".

    For further information contact:

    International Personal Finance plc

    Ben Murphy (Group Legal Director and Company Secretary) +44 (0) 113 285 6890
    Rachel Moran (Investor Relations Manager) +44 (0) 113 285 6898
    Nick Jones (Media) +44 (0) 113 285 6815
    Annexes
    File Description

    Nazwa arkusza: INFORMATION ABOUT THE ENTITY


    INTERNATIONAL PERSONAL FINANCE PLC
    (fullname of the issuer)
    INTERNATIONAL PERSONAL FINANCE Finanse inne (fin)
    (short name of the issuer) (sector according to clasification
    of the WSE in Warsow)
    LS11 5BD Leeds
    (post code) (city)
    Building Three Leeds City Office Park Meadow Lane
    (street) (number)
    +44 113 285 6700 +44 113 245 1675
    (phone number) (fax)
    (e-mail) (web site)
    911347253
    (NIP) (REGON)

    Nazwa arkusza: SIGNATURE OF PERSONS REPRESENTING THE COMPANY


    SIGNATURE OF PERSONS REPRESENTING THE COMPANY
    Date Name Position / Function Signature
    2014-04-03 David Broadbent Director

    Identyfikator raportujjvuszwyf1
    Nazwa raportuUNI-EN
    Symbol raportuUNI-EN
    Nazwa emitentaINTERNATIONAL PERSONAL FINANCE PLC
    Symbol EmitentaINTERNATIONAL PERSONAL FINANCE
    TytulSummary of Eurobond refinancing
    SektorFinanse inne (fin)
    KodLS11 5BD
    MiastoLeeds
    UlicaBuilding Three Leeds City Office Park Meadow Lane
    Nr
    Tel.+44 113 285 6700
    Fax+44 113 245 1675
    e-mail
    NIP911347253
    REGON
    Data sporzadzenia
    Rok biezacy2014
    Numer16
    adres www
    Serwis Ekonomiczny Polskiej Agencji Prasowej SA2014 Copyright PAP SA - Wszelkie prawa zastrzezone.