The bonds are available to retail investors and are being issued by IPF for general corporate purposes.
IPF and its subsidiaries provide small sum, short term unsecured loans in Poland, Hungary, the Czech Republic, Slovakia, Romania and Mexico and the group currently has approximately 6,330 employees and 28,500 agents. In 2012 the Group served 2.4 million customers and profit before tax and exceptional items was £95.1M.
The bonds, which have a minimum initial subscription amount of £2,000 and are available in multiples of £100 thereafter, are expected to be listed on the UK Listing Authority’s Official List and admitted to trading on the London Stock Exchange’s regulated market and through the electronic Order Book for Retail Bonds.
This retail bond is part of IPF’s strategy of diversifying sources of funding and extending the term of debt facilities, at lower cost to provide further funding for the future development of the business as we continue to progress our Strategy for Growth.