IDFinance Spain S.A.U. closes first vote of Eurobond refinancing

• Two-year Eurobond extension
• Bondholders supporting the amendment terms will receive an amendment fee of 100 bps.
• Adjourned meeting within next three weeks.

Barcelona, 20^th of October 2022 – ID Finance Spain S.A.U. (the “Company”), a fast-growing fintech in Spain, held a bondholder´s meeting on October 19^th, 2022. The formal process has been initiated on 27 September 2022 to amend the terms and conditions of its Eurobonds (ISIN XS2231806394) maturing in 2023. Bondholders were invited to vote on a two-year extension to their maturity to September 2025.

As expected by the Company, a quorum was not reached in the first round of voting. Consequently, an adjourned meeting will be held within the next three weeks and a new convening notice will be shared with bondholders soon.

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.

As part of the amendments, the Company will in addition to an amendment fee also offer to enhance the bondholders’ position by introducing financial and legal covenants that conform with market standard practice.

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).