LEXTAL has acted as a local advisor in Estonia in the issuance of senior bonds by IuteCredit Finance SA, the wholly owned subsidiary of IuteCredit Europe established and operating in Luxembourg, for a total amount of EUR 40 million, due 2023. The bonds are secured by claims arising from the Group’s loan portfolios and by guarantees of subsidiaries or equivalent securities. The bonds (ISIN: XS2033386603) are listed on the Open Market of Frankfurt Stock Exchange.
The task of LEXTAL was to assist in the preparation of Estonian legal documents (collateral agreements, legal opinions, etc) necessary for the bond issuance. As the previous local bond program was terminated in connection with the abovementioned bond issue, LEXTAL also advised the client on legal questions related to the bond program termination. AS IuteCredit Europe was advised by partner Ants Karu, partner Kristi Sild and attorney Henri Ratnik.
IuteCredit Europe is an international consumer credit company established in 2008. IuteCredit Europe is headquartered in Estonia and operates through subsidiaries in Moldova, Albania, Northern Macedonia, Kosovo and Bosnia and Herzegovina.