Ferratum gets consents to amend terms of senior bond loan due 2022

By Wendy Van Sickle

Columbus, Ohio, Oct. 15 – Ferratum Oyj said it received consents necessary to amend some terms and conditions of the €150 million senior bond loan due 2022 issued by Ferratum Capital Germany GmbH in 2018, according to a press release.

As announced on Sept. 24, Nordic Trustee & Agency AB (publ) as trustee issued a notice of written procedure containing a request to amend the terms.

The proposal sought to increase the net debt to equity maintenance test level from 3.0x to 3.5x, thereby aligning the terms of the issuer’s outstanding 2022 bonds and 2023 bonds.

A sufficient number of bondholders participated in the written procedure to form a quorum, and a requisite majority of the bondholders voted in favor to approve the proposal.

The group will pay a consent fee of 0.75% to all holders of the bonds. The payment date is expected to be Oct. 29.

The amendments will be effective as of Oct. 15.

Ferratum is a Helsinki-based provider of financial services.

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