REG - Investment Evolution - IEC Appoints UK Corporate Broker
12/02/2024 08:15
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RNS Number : 7278C Investment Evolution Credit PLC 12 February 2024
Investment Evolution Credit plc
("IEC" or the "Company")
IEC Appoints UK Corporate Broker for £100m 15% Bond Fundraising
Investment Evolution Credit plc (AQSE: IEC) - 12 February 2024: IEC, a global
fintech group specialising in online consumer loans, announces it has
appointed Axis Capital Markets Limited ("the Corporate Broker" or "Axis
Capital Markets"), a leading UK institutional broker, to act as IEC's
Corporate Broker. As part of its role as Corporate Broker, Axis Capital
Markets will also conduct the Company's up to £100 million bond offering
announced on 5 February 2024, the IEC 15% fixed rate unsecured bond 2024 ("IEC
Bond"). An excerpt of the announcement can be viewed in the Information on IEC
15% Bond section further below.
Paul Mathieson, Chief Executive Officer of Investment Evolution Credit plc,
stated
"Within only days of launching our up to £100 million 15% per annum IEC Bond
offering, we are excited to announce significant initial investor interest and
the appointment of a leading UK institutional Corporate Broker, Axis Capital
Markets, to conduct our bond offering."
Richard Hutchison, Chief Executive Officer of Axis Capital Markets Limited,
stated
"We are pleased to be engaged as Corporate Broker for Investment Evolution
Credit plc. IEC is an exciting fintech company on the verge of a potentially
rapid growth cycle to be funded by the attractive IEC 15% bond offering."
Information on IEC 15% Bond
The IEC Bond offers investors a fixed 15% per annum return over 5 years, with
interest payable quarterly. The proceeds from the IEC Bond will be used solely
to fund expansion of the Company's consumer loan portfolio and shall not be
used for funding the Company's working capital or for any other purpose. IEC
Bond proceeds are expected to be immediately deployed to fund new consumer
loans in the Company's United States state-licensed lending business Mr.
Amazing Loans, and to fund new consumer loans in the United Kingdom upon the
anticipated launch of IEC's UK lending operations by early 2025.
The IEC Bond offering will be an ongoing bond series, with the first tranche
expected to be issued in February 2024 and with planned ongoing monthly bond
tranche issuances thereafter.
IEC also plans to seek a public listing of the IEC Bond on a stock exchange in
due course to enhance liquidity, transparency and accessibility for IEC Bond
investors. The IEC Bond is initially only open for minimum investments of
£100,000 to Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 exempt investors via completion of an IEC bond subscription letter
to subscribe for IEC Bonds on the basis of the terms and conditions of the IEC
bond instrument.
IEC is an experienced regulated licensed lender under the corporate entity
Investment Evolution Corporation and consumer brand Mr. Amazing Loans in the
United States with state consumer lending licenses in the 6 states of
California, Florida, Georgia, Illinois, Nevada and New Jersey and an
established track-record of regulatory compliance for over 13 years. IEC plans
to expand its United States lending model to the United Kingdom market by
providing £2,000 to £10,000 online personal loans with an APR of 19.9% to
59.9% and fixed affordable repayments.
This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company accept responsibility
for the contents of this announcement.
Enquiries:
Investment Evolution Credit plc
Paul Mathieson iec@investmentevolution.com
Chairman & CEO
Cairn Financial Advisers LLP (IEC AQSE Corporate Adviser)
Ludovico Lazzaretti +44 (0) 20 7213 0880
Jo Turner
Axis Capital Markets Limited (IEC Corporate Broker)
Ben Tadd +44 (0) 20 3026 0449
Lewis Jones
For more information please visit: www.investmentevolution.com
(http://www.investmentevolution.com)
IMPORTANT NOTICES
No prospectus will be made available in connection with the matters contained
in this announcement and no such prospectus is required (in accordance with
the Prospectus Regulation (EU) 2017/1129 as amended from time to time (the
"Prospectus Regulation") and the Prospectus Regulation as it forms part
of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
(the "UK Prospectus Regulation")) to be published.
Members of the public are not eligible to take part in this IEC Bond offering.
This announcement is for information purposes only and is directed at and may
only be communicated to (a) in the European Economic Area ("EEA"), persons who
are "qualified investors" within the meaning of Article 2(e) of the Prospectus
Regulation ("Qualified Investors"); and (b) in the United Kingdom, at
Qualified Investors within the meaning of Article 2(e) of the UK Prospectus
Regulation who are also (i) persons having professional experience in matters
relating to investments who fall within the definition of "investment
professionals" in Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order"); (ii) a high net worth company,
unincorporated associations and partnerships and trustees of high value trusts
as described in Article 49(2) of the Order; or (iii) persons to whom it may
otherwise lawfully be communicated (all such persons together being referred
to as "Relevant Persons").
Any investment or investment activity to which this announcement relates is
only available to, and will be engaged in only with, Relevant Persons. Persons
distributing this announcement must satisfy themselves that it is lawful to do
so. This announcement is for information purposes only and shall not
constitute an offer to sell or issue or the solicitation of an offer to buy,
subscribe for or otherwise acquire securities in any jurisdiction in which any
such offer or solicitation would be unlawful. Any failure to comply with this
restriction may constitute a violation of the securities laws of such
jurisdictions.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND,
SUBJECT TO CERTAIN LIMITED EXCEPTIONS, IS NOT FOR PUBLICATION, RELEASE OR
DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE
UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE
UNITED STATES OR THE DISTRICT OF COLUMBIA (COLLECTIVELY, THE "UNITED
STATES"), AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR
ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION
WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY
AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.
This announcement is not a public offer of securities for sale in the United
States. The securities referred to herein have not been and will not be
registered under the US Securities Act 1933, as amended (the "Securities Act")
or under the securities laws of any state or other jurisdiction of the United
States, and may not be offered or sold directly or indirectly in or into the
United States except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and in
compliance with the securities laws of any state or any other jurisdiction
of the United States. The securities referred to herein may not be offered
and sold within the United States except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the
Securities Act.
Persons needing advice should consult an independent financial adviser.
Caution Regarding Forward Looking Statements
Certain statements made in this announcement are forward-looking statements.
These forward-looking statements are not historical facts but rather are based
on the Company's current expectations, estimates, and projections about its
industry; its beliefs; and assumptions. Words such as 'anticipates,'
'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar
expressions are intended to identify forward-looking statements. These
statements are not a guarantee of future performance and are subject to known
and unknown risks, uncertainties, and other factors, some of which are beyond
the Company's control, are difficult to predict, and could cause actual
results to differ materially from those expressed or forecasted in the
forward-looking statements. The Company cautions security holders and
prospective security holders not to place undue reliance on these
forward-looking statements, which reflect the view of the Company only as of
the date of this announcement. The forward-looking statements made in this
announcement relate only to events as of the date on which the statements are
made. The Company will not undertake any obligation to release publicly any
revisions or updates to these forward-looking statements to reflect events,
circumstances, or unanticipated events occurring after the date of this
announcement except as required by law or by any appropriate regulatory
authority.
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