2023 Sept 27
PlusPlus EUR 2022/2026 bondholders vote against termination of bonds and enforcement of guarantees
PlusPlus Capital (“PPC”), a leading Pan-Baltic and Finnish technology-driven receivables management group, yesterday received backing from bondholders of its EUR 2022/2026 bonds to resolve liquidity difficulties. The bondholders in the adjourned meeting voted with a 84.19 % majority against termination of the bond as well as the enforcement of guarantees following the Company’s initial non-payment of the upcoming interest payments and missing the necessary quorum in a first meeting. In connection with the waiver of the termination of the bonds as well as the call on the guarantees.
PlusPlus Capital will provide information on the next steps in due course.
PlusPlus Capital AS
Kaarel Raik, Member of the Management Board
Phone: +372 56 606 148
About PlusPlus Capital:
PlusPlus is a pan-Baltic and Finnish technology-driven receivables management company with offices in Tallinn, Riga, Vilnius, and Helsinki. The Company acquires overdue loans and other non-performing exposures from financial institutions and non-financial sector merchants. With its core competence in handling claims against private individuals, PlusPlus prefers diversified portfolios balanced by geography, portfolio type, and other metrics.
Since its inception in 2010, PlusPlus has bought over 120 thousand claims with nominal value of approximately EUR 300 million. The Company offers its clients affordable recovery solutions and aims to avoid litigious scenarios. In doing so, PlusPlus pursues win-win solutions that allow sellers to focus on their core business, provide affordable solutions for borrowers, and ensure adequate returns for investors.
PlusPlus is a transparent and socially responsible company set to assist people in resolving problems connected with their insufficient solvency. The ambition of PlusPlus is to increase its market share and further strengthen its position as a leading player in its regional market.