International Personal Finance (GB:IPF) has released an update.
International Personal Finance plc has announced a tender offer for the purchase of its EUR 341,228,000 Senior Unsecured Notes due 2025, aiming to refinance through a combination of new senior notes issuance and available cash. The tender offer is contingent upon certain conditions, including a new financing condition, and will offer a purchase price of €1,015 per €1,000 of principal, in addition to accrued interest. Noteholders have the option to prioritize their acceptance by subscribing for new notes, with the risk being that non-participation may result in a lower future payout if the company exercises its right to redeem remaining notes after an 85% threshold is reached.
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