MCB Finance Group Plc (AIM: MCRB.L) announces that it has raised a further SEK 60 million (Euro 6.8 million) of bond funding from Nordic investors. Together with the first closing of SEK 200 million in March 2012, MCB Finance has now raised a total of SEK 260 million (Euro 29.4 million) through its SEK 500 million asset backed bond facility.
The bonds will be issued at par and have identical terms and conditions to those issued in March 2012. Settlement is expected to take place on or about 2 July 2012.
The Company will use the proceeds of this second bond issue to support the continued growth of the Group's consumer loan portfolio in both current and new markets.
Rami Ryhänen, Chief Executive Officer of MCB Finance Group Plc, said: "We are delighted to have completed this second bond issue which underlines investors' continued confidence in MCB Finance."
|MCB Finance Group Plc||www.mcbfinance.com|
|Rami Ryhänen, Chief Executive||+372 5300 8332|
|Henry Nilert, CFO||+358 451 370 065|
|Nominated adviser and broker:|
|Merchant Securities Limited:|
|Lindsay Mair / Catherine Miles||+44 20 7628 2200|
|Peter Curtain||+44 20 3137 2500|
About MCB Finance Group Plc
MCB Finance Group is a consumer finance company providing fast, convenient, easily understood and flexible credit solutions under the Credit24 brand to retail customers in Finland, Estonia, Latvia and Lithuania. In its current markets the Company is a leading participant in the non-bank consumer credit sector, providing unsecured loans up to €2,000 to qualifying customers, with maturities ranging up to two years. Loan products are designed to suit customers' needs, with simple and transparent terms and flexible repayment schedules. The Company operates in a segment of the market that is typically under-served by larger financial institutions, and is focused on serving high quality customers with strong credit histories. Loans are currently offered online through the Company's Credit24 branded websites in each market, as well as through certain distribution partners.