Iute Group, a European personal finance group, announced today that the June 2026 coupon payment on its 12% Senior Secured EUR 2025/2030 Bonds (ISIN: XS3047514446) has been delayed in crediting to all bondholders. The company emphasized that all obligations for the payment have been met and the required funds, approximately EUR 18 million, were transferred in accordance with the established process. The delay is attributed to issues within the subsequent settlement process involving international securities clearing systems.
The payment structure, which has been in place since 2019, involves the paying agent, BPER Luxembourg SA, and Banque Internationale a Luxembourg (BIL) as the central securities depository. Previous coupon and principal payments have been processed without similar disruptions. Iute Group is working with the relevant parties to resolve the delay and will provide updates as more information becomes available.
This development is significant as it affects bondholders expecting timely interest payments. The company's transparency in addressing the issue is crucial for maintaining investor confidence. Iute Group, through its subsidiary IuteCredit Finance S.a r.l., remains committed to fulfilling its financial obligations. For further details, the original press release is available at www.newmediawire.com.
