IDFinance Spain S.A.U. adjourns vote of Eurobond refinancing

• Two-year Eurobond extension.
• Bondholders supporting the amendment terms will receive an amendment fee of 100 bps.
• Adjourned meeting to 3^rd November 2022.

Barcelona, 24 October 2022 – ID Finance Spain S.A.U. (the “Company”), a fast-growing fintech in Spain, issued a convening notice on 21 October 2022 with regard to the process initiated on 27 September 2022 to amend the terms and conditions of its Eurobonds (ISIN XS2231806394) maturing in 2023.

Bondholders are invited to vote on a two-year extension on their maturity to September 2025. In addition, the denominations shall reduce from €100,000 to €1,000 as well as the company increasing financial and non-financial covenants for bondholder protection.

The meeting is adjourned to 3 November 2022 at 12:00pm, London time, at the offices of Reed Smith LLP.

Please refer to the convening notice for additional details. 

The Company is in close contact with investors, and has received broad support among bondholders, hence positive outcome is expected in the second vote. If the resolution is successfully passed, bondholders who vote to support the amendment terms will receive an amendment fee of 100bps.

Aalto Capital acts as financial advisor to the Company. Holders of the Eurobonds are encouraged to reach out directly to Aalto Capital (contact details below) for more information regarding the process of amending the terms and conditions of the bonds.

For more information, please contact: [email protected], or Aalto Capital ([email protected] / +49 89 8986777-0).