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Please note, that Multitude Bank was formerly called Ferratum Bank.

Instruments

Data and Facts

Issuer Ferratum Bank Plc
Issuance volume placed €5,052,000 in Tranche 1 out of a maximum of €40,000,000
Coupon 6%
First issue date April 13, 2022
Stock exchange Malta Stock Exchange
Ranking, collateralization Unsecured Subordinated
Method of interest payment Annually in arrears
Denomination /
Issue price
€1,000
100 %
Maturity April 13, 2032
ISIN MT0000911215
Co-Sponsors Calamatta Cuschieri Investment Services Ltd & Rizzo Farrugia & Co (Stockbrokers) Ltd
Document Ferratum Bank Plc Tier 2 2022 Final Terms

Data and Facts

Issuer Ferratum Bank Plc
Issuance volume placed Initial offering EUR 25 million + tap option of 15 million. Total 40 million
Coupon 6.25% p.a. above 3 month EURIBOR (incl. floor at 0%)
First issue date December 15, 2016
Stock exchange segment /
Stock exchange
European Wholesale Securities Market
Nasdaq Stockholm
Frankfurt Stock Exchange
Rating Guarantor rated with BBB+ by Creditreform.
Ranking, collateralization Senior unsecured
Guarantor Ferratum Oyj (duly incorporated under the laws of Finland under registration number 1950969-1)
Method of interest payment Quarterly, first payment March 15, 2017
Covenants
  • Negative pledge of issuer and guarantor
  • Maintenance covenants
    • Capital cover ratio >1.30 (for Issuer)
    • Net debt / Equity <3.00 (for Guarantor)
  • Cross default
  • Change of control with guarantor and issuer
  • Dividend restriction
    • 25% of previous year’s net profit for the Guarantor. Any distributions made by the Issuer shall be re-transferred to the Issuer within 12 months
Denomination /
Issue price
EUR 100,000.00
100 %
Runtime/
Maturity
39 months
March 15, 2020
Securities Identification Number /
ISIN
FI4000232830
Use of funds Refinancing of Ferratum Bank PLC bond MT0000911207 and general corporate purposes
Lead Manager & Sole Bookrunner Pareto Securities
Co-Lead Manager ICF Bank
Document Ferratum Bank plc Financial Results Summary 2017

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Multitude Bank