MCB Finance subsidiary collects consents to issue asset-backed notes

By Susanna Moon

Chicago, Jan. 16 - MCB Finance Group plc said its wholly owned subsidiary MCB Treasury AB obtained bondholder consents to amend its notes.

The changes allow the company to issue asset-backed fixed-rate notes under the existing terms in euros as well as Swedish krona, according to a company press release.

The company also said it amended the equity ratio covenant definition to include equity equivalent debt.

The amendment was approved by bondholders with a majority of 99.42% of the votes, the release noted.

The company said it previously noted that it sought the amendment "with a view to increasing its funding flexibility to support the company's anticipated future growth, to optimize its capital structure and to reduce funding risk from being over-dependent on a limited number of capital markets."

CorpNordic Sweden AB (+46 8402 7200, attn.: Jolande Svensson-Klijn, trustee@corpnordic.com) was the agent for the noteholders.

MCB Finance is a consumer finance company based in London that provides credit solutions to retail customers in Finland, Estonia, Latvia and Lithuania.

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