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Published: 2023-03-06 08:20:37 CET
IuteCredit Finance S.a r.l
Company Announcement

IuteCredit: Public Offering of Senior Secured Bonds open for subscriptions

Tallinn, Estonia, March 2023. IuteCredit Group (“IuteCredit”), a leading European personal finance group, announces the public offering of Senior Secured bonds (“Offering”) based on the securities prospectus (“Prospectus”) authorized by the Luxembourg Financial Supervisory Authority CSSF (Commission de Surveillance du Secteur Financier) on 1 March 2023. The Prospectus has been published on IuteCredit's website at https://iutecredit.com/prospectus/. The Offering is directed to all natural and legal persons in Estonia, Latvia, Lithuania, and Germany and not in any other jurisdictions.

Retail investors may submit their orders: 

  • in Estonia: LHV Bank, Swedbank;
  • in Latvia: Swedbank, Bank Citadele, BlueOr Bank.
  • in Lithuania: Swedbank, Šiaulių Bank, SEB. 

Institutional investors and investors with an investment of more than EUR 100,000 may submit their orders:

Signet Bank AS

Edmunds Antufjevs, +371 6708 1058, edmunds.antufjevs@signetbank.com

Main terms of the Offering 

IuteCredit, through its fully owned subsidiary IuteCredit Finance S.a.r.l., is offering up to 500,000 New Bonds with a nominal value of EUR 100 with a maximum aggregate nominal value of EUR 50,000,000 on top of the already issued and listed EUR 75,000,000 bond (XS2378483494).  The maturity date is 6 October 2026 and the interest rate of 11% per annum is payable semi-annually.

The amount will be up to EUR 50,000,000 to be immediately consolidated on the Issue Date and form a single series with the EUR 75,000,000, 11% senior secured bonds due 2026 (the “Existing Bonds”) for an aggregate principal amount of up to EUR 125,000,000 (the “Bonds”).

The main objective is to refinance the 2019/2023 bond. The offer price per one New Bond (the “Offer Price”) will range between 96.5% and 99.5% and will be communicated to investors on 31 March 2023 in the Pricing Notice. The Senior Secured Bonds are registered in Clearstream Banking S.A. CSD, Luxembourg, under ISIN code XS2378483494. 

The subscription period for the bonds starts on 6 March 2023 at 10.00 EET and will end on 31 March 2023 at 14.00 EET. The Offering will be targeted to qualified investors and to retail investors in Estonia, Latvia, and Lithuania as well as in Germany.

The auction’s rules are available in the attachment.

The Bonds constitute direct, general, unconditional, unsubordinated, and secured obligations of the Issuer. The Bonds will at all times rank pari passu in right of payment with all other present and future secured obligations of the Issuer and senior to all its existing and future subordinated debt.

Detailed information is available in the Prospectus.

Timetable of the Offering 

Start of the Offer Period 6 March 2023

End of the Offer Period 31 March 2023

Announcement of the results of the Cash Offering 31 March 2023

Settlement of the Offering 6 April 2023

Commencement of Trading 6 April 2023

The New Bonds allocated to investors are expected to be transferred to their securities accounts on or about 6 April 2023. The Issuer will, simultaneously with the Offering, apply for the listing and for the admission to trading of the bonds on the Baltic regulated market of Nasdaq Tallinn Stock Exchange and on the Frankfurt Stock Exchange’s regulated market (General Standard). The expected date of listing and the admission to trading of the New Bonds is on or about 6 April 2023. 

Availability of the Prospectus and bond terms

The securities prospectus approved by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg is now available on IuteCredit's website at: https://iutecredit.com/investor/#prospectus. All information on the Offering process as well as the documents required for the subscription of the bonds are available on IuteCredit´s website under the link https://iutecredit.com/investor/#prospectus.

Before investing in IuteCredit´s Senior Secured Bonds, we ask you to acquaint yourself with the Prospectus, the bond terms, and the terms of the Offering in full and if necessary, consult with an expert.


Iute Group is a fintech company established in 2008 in Estonia. The Group specializes in consumer finance, payment services, banking, and insurance products. It serves customers in Albania, Bosnia and Herzegovina, Bulgaria, Moldova, and North Macedonia. Iute Group finances its loan portfolios with equity, deposits, and secured bonds on the Regulated Market of the Frankfurt Stock Exchange and the Nasdaq Baltic Main List.



The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or any other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Persons into whose possession this announcement may come are required to inform themselves of and observe all such restrictions.

This announcement does not constitute an offer of securities for sale in the United States. The bonds have not been and will not be registered under the Securities Act or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

This announcement does not constitute a prospectus for the purposes of Directive 2003/71/EC, as amended (the “Prospectus Directive”) and does not constitute a public offer of securities in any member state of the European Economic Area (the “EEA”).

This announcement does not constitute an offer of bonds to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the bonds. Accordingly, this announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this announcement as a financial promotion may only be distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “Relevant Persons”). Any invitation, offer, or agreement to subscribe, purchase, or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.


         Kristel Kurvits, Group Chief Financial Officer (CFO)
         Email: investor@iutecredit.com
         Phone: +372 622 9177

230301 IuteCredit Prospectus Summary_EST.pdf
230301 IuteCredit Prospectus Summary_LT.pdf
230301 IuteCredit Prospectus Summary_LV.pdf
230301 IuteCredit Tap Issue Prospectus.pdf