08.03.2018
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DGAP-News: MyBucks S.A.: MyBucks S.A. successfully implements refinancing measures
DGAP-News: MyBucks S.A. / Key word(s): Financing
MyBucks S.A.: MyBucks S.A. successfully implements refinancing measures
08.03.2018 / 08:40
The issuer is solely responsible for the content of this announcement.
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Corporate release
MyBucks S.A. successfully implements refinancing measures
- Hard currency refinancing rate drops from c. 21% to 15% per annum
- Annualized cost savings in excess of EUR6m
Luxembourg - March 8, 2018 - Frankfurt-listed FinTech MyBucks S.A. ("MyBucks"
or the "Company", ISIN: LU1404975507, Bloomberg: MBC:GR) has successfully
completed anticipated refinancing measures. As a result of the successful
private placement in the amount of EUR 11.7 million some weeks ago, with the
strong backing of MyBucks' key shareholders, MyBucks has dropped the hard
currency refinancing rate in average from c. 20% to below 15% per annum.
This change leads to an annualised pro-forma cost saving of EUR6m that will
be fully effective in the next full financial year 2018/2019.
Tim Nuy, Deputy CEO, MyBucks, said: "The reduction of our refinancing costs
is a very important strategic milestone and will lead to immediate positive
effects on our net earnings. Next step now is to significantly increase
lending volumes. We are working on several measures for increasing our
refinancing which includes bank-to-bank financing - similar to the
successful partnership we have already with German technology bank FinTech
Group -, the issuance of various debt instruments like bonds or convertibles
and also taking retail deposits in the countries where we have the required
licenses to do so."
ENDS
About MyBucks
MyBucks S.A. (WKN: A2AJLT, ISIN: LU1404975507, Ticker Symbol: MBC:GR) is a
FinTech company based in Luxembourg that delivers seamless financial
services through technology. Through its brands GetBucks and GetSure the
company offers impact loans, unsecured consumer loans, banking solutions as
well as insurance products to customers. MyBucks has experienced exponential
growth since its inception in 2011 and today has operations in twelve
African and two European countries as well as in Australia. MyBucks aims to
ensure that its product offering is accessible, simple and trustworthy, in
comparison to traditional, non-technological methods, ultimately working
towards enhancing the benefits to the customer. The MyBucks' product
offering enables customers to manage their financial affairs easily and
conveniently. Discover more at http://www.mybucks.com.
Contact:
Sandy Greaves-Campbell
[email protected]
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08.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: MyBucks S.A.
14, rue Edward Steichen
L-2540 Luxembourg
Grand Duchy of Luxembourg
Phone: +352 2088 2123
Fax: +27 86 537 2010
E-mail: [email protected]
Internet: www.mybucks.com
ISIN: LU1404975507
WKN: A2AJLT
Listed: Regulated Unofficial Market in Frankfurt (Scale)
End of News DGAP News Service
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