Hoist Finance issues EUR 30 million Additional Tier 1 capital
Hoist Kredit AB (publ) (Ba1 / stable), ("Hoist Finance"), a fully-owned subsidiary of Hoist Finance AB (publ), today announces that it has issued Additional Tier 1 capital to further optimise its capital structure.
The instrument is perpetual with a non-call period of 6.5 years and has a coupon of 8.625%. The instrument will be listed on the Global Exchange Market regulated by the Irish Stock Exchange.
“We are very pleased with the terms for the new issue. This transaction demonstrates our investors’ positive view of Hoist Finance’s solid financial position and growth opportunities. We are seeing increased activity in the European market for non-performing loans, and this transaction further strengthens our capital ratios and thereby increases our growth capacity going forward”, says Magnus Linnersand, Group Head of Treasury.
Credit Suisse acted as sole structuring advisor and book runner on the transaction.
For further information, please contact:
Magnus Linnersand, Group Head of Treasury
Phone: +46 (0)8 555 177 72
Michel Jonson, Group Head of Investor Relations
Phone: +46 (0)8 555 177 19
This information is information that Hoist Kredit AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication on 15 December 2016 at 17:40 CET.
About Hoist Finance
Hoist Finance is a leading debt restructuring partner to international banks and financial institutions, offering a broad spectrum of advanced solutions for acquisition and management of non-performing unsecured consumer loans. Hoist Finance operates through eleven in-house collection centers across Europe, complemented by local external debt servicing partners. The total carrying value of Hoist Finance’s acquired loans was approximately SEK 11.3 billion as per 31 December 2015. The parent company Hoist Finance AB (publ) is listed on Nasdaq Stockholm Mid-Cap list and its subsidiary Hoist Kredit AB (publ) is a regulated “Credit Market Company” under the supervision of the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). In Sweden, the company offers internet-based savings deposit services through HoistSpar, with around 85,000 accounts.
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