PlusPlus Capital Financial S.à.r.l.
PlusPlus Capital informs of cross-default on 2026 EUR bond

PlusPlus Capital informs of cross-default on 2026 EUR bond

Tallinn, Estonia, 7 November 2022. PlusPlus Capital (“PPC”) has not made the interest payments on its 2022 Estonian notes (ISINs: EE3300001726, EE3300001437, EE3300002005, and EE3300002179). The Company has suspended payments on the Estonian Notes after calling holders of its 2022 Estonian Notes with ISIN EE3300001726 to vote on a redemption waiver by 18 November 2022. Previously, the total volume of EUR 15 million of Estonian Notes (ISIN: EE3300001726) initially outstanding for repayment had been only partially rolled over to EUR Notes 2026 (ISIN: XS2502401552), as a number of long-standing commitments from investors would not be renewed due to changes in market conditions.

As the total amount of the outstanding payments on the 2022 Estonian notes, including the redemption of the notes and interest payments, exceeds the amount of EUR 10 million according to terms and conditions, PlusPlus Capital Financial S.à r.l. declares a cross-default on the 2026 EUR bond (ISIN XS2502401552) and informs the bondholder agent without delay.

PlusPlus Capital in view of the successful operational business development is committed to finding a sustainable and satisfactory solution with the involvement of the investors.

PlusPlus Capital will publish its 2022 Nine-Month Report on 15 November 2022. The corresponding earnings call will be held on 17 November 2022.

Contact:

PlusPlus Capital
Peeter Piho, Chairman of the Supervisory Board
Email: peeter.piho@plusplus.ee
Phone: +372 503 0130

Aalto Capital (Investor Relations)
Sven Pauly, Consultant
Email: sven.pauly@aaltocapital.com
Phone: +49 89 898 67 77 0