ZAIM Credit Systems PLC Additional Debt Funding (4519U)
06 4월 2021 - 3:00PM
UK Regulatory
TIDMZAIM
RNS Number : 4519U
ZAIM Credit Systems PLC
06 April 2021
Not for release or distribution, directly or indirectly, within,
into or in the United States or to or for the account or benefit of
persons in the United States, Australia, Canada, Japan or any other
jurisdiction where such offer or sale would violate the relevant
securities laws of such jurisdiction
For Immediate Release 6 April 2021
Zaim Credit Systems Plc
("Zaim" or the "Group")
Additional Debt Funding
Zaim Credit Systems plc, the FinTech group providing financial
inclusion for those consumers who are not well served by mainstream
lenders, is pleased to announce that its wholly owned subsidiary
Zaim Express LLC has entered into a loan agreement for an
additional RUB50 million unsecured loan (circa GBP0.5m) with a
duration of 1.5 years and an annual interest rate of 15% payable
monthly.
These funds will predominately be used to increase the active
loan book of the Group by funding its online activities, with a
smaller portion ringfenced for certain potentially high impact
business development activities.
Interest rates are structurally higher in Russia than in western
Europe with the current central bank base rate of 4.5% and 15% is
considered to be reasonable for an unsecured loan portfolio
facility. The equivalent monthly rate of approximately 1.2% for
this additional loan compares favorably to the current returns
generated from the lending activities of the Group and is expected
to have a meaningful impact on the financial performance of the
business at what is a critical time for the rapid growth of the
Group.
The Group ended 2020 with a strong performance and is pleased to
report this has continued into 2021, a further update on the
performance will be included in the financial results for the year
to be released before the end of April.
Siro Cicconi: CEO of Zaim Credit Systems commented:
"We are pleased to note that our business, especially its online
segment is growing beyond our expectations. As such we have found
that we have had to restrict supply of loans to new customers -
this additional facility will help us finance some of this
additional demand and therefore enable us to enhance shareholder
returns. We are pleased with the show of support from our existing
banking provider, which adds additional validation to our business
model"
Enquiries:
Zaim Credit Systems Plc
Simon Retter
Siro Cicconi Tel: +44 (0) 73 9377 9849
Alex Boreyko Tel: +7 925 708 98 16
investors@zaimcreditsystemsplc.com
Beaumont Cornish Limited
Roland Cornish / James Biddle Tel: +44 (0) 20 7628 3396
Optiva Securities Limited
Jeremy King / Vishal Balasingham Tel: +44 (0) 20 3137 1902
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCDKPBNCBKDFQK
(END) Dow Jones Newswires
April 06, 2021 02:00 ET (06:00 GMT)
Adalan Ventures (LSE:ZAIM)
과거 데이터 주식 차트
부터 1월(1) 2025 으로 2월(2) 2025
Adalan Ventures (LSE:ZAIM)
과거 데이터 주식 차트
부터 2월(2) 2024 으로 2월(2) 2025
