2024 July 17
PlusPlus Capital bondholders broadly support reorganization plan
Tallinn, Estonia, 17 July 2024. PlusPlus Capital (“PPC”), a leading pan-Baltic and Finnish technology-driven receivables management group, received broad support from its bondholders for the proposed reorganization plan of its fully owned subsidiary PlusPlus Capital Financial S.à r.l.
With a participation rate of approximately 89% of the outstanding principal, the participating bondholders with approximately 94% almost unanimously supported the reorganization plan.
Following the successful bondholder meeting on Friday, 12 July 2024, the Company filed the reorganization plan with the court on 16 July 2024. The hearing for the court’s ruling on the proceedings of the reorganization plan is expected to take place on 6 August 2024.
PlusPlus Capital will inform about the ruling of the Luxembourg court on the reorganization process of PlusPlus Capital Financial S.à r.l. in due course.
Contact:
PlusPlus Capital
Kaarel Raik, Member of the Management Board
Email: kaarel.raik@plusplus.ee
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 270 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.