PlusPlus EUR 2022/2026 Bondholders approve amendments to terms and conditions

Cross-default cured with provision to exchange Estonians notes

Tallinn, Estonia, 18 April 2023. PlusPlus Capital (“PPC”), a leading Pan-Baltic and Finnish technology-driven receivables management group, yesterday received broad bondholder approval to amend the terms and conditions of its EUR 2022/2026 bonds. All proposed amendments were approved. Thereby, the conditions for exchanging the outstanding Estonian notes into the EUR 2022/2026 bonds were provided. As a result, the cross-default of the EUR 2022/2026 bonds is also to be cured. PlusPlus Capital can now once again focus on the acquisition of attractive portfolios. The current economic and interest rate environment offers promising growth opportunities in the portfolio management business.

Aalto Capital acted as financial advisor to PlusPlus Capital.

Kaarel Raik, Member of the Management Board of PlusPlus Capital: “We want to thank our investors for their support and constructive feedback in finding a solution which is in the best interest of all parties involved. The bondholders´ approval of the amendment to the bond terms and conditions is a great vote of confidence in PlusPlus Capital and in the growth opportunities of our business model. We greatly appreciate the support of our investors in harmonizing our maturity profiles. We can now turn our focus on taking advantage of very good market conditions.”

Proxies were given to a single proxy holder in accordance with Luxembourg laws on the bondholders’ meetings. With the resulting participation of 79% of outstanding bonds, the quorum threshold of 50% was duly satisfied. The participants voted unanimously in favor of each of the resolutions, with 100%, thereby also duly meeting the majority thresholds.

The terms and conditions of the EUR 2022/206 bonds are expected to be formally amended in the coming days. The updated terms and conditions and the full documentation of the meeting including the minutes are available on the website of PlusPlus Capital at 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

Aalto Capital (Investor Relations)
Sven Pauly, Director
Email: sven.pauly@aaltocapital.com
Phone: +49 89 898 67 77 0

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 117 thousand claims with nominal value of approximately EUR 289 million as at 31 December 2022. 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