PlusPlus Capital Bondholders Broadly Support Reorganization Plan

PlusPlus Capital (PPC), a pan-Baltic and Finnish receivables management group, announced that its bondholders have shown strong support for the reorganization of its subsidiary, PlusPlus Capital Financial S.à r.l. In a meeting held on 12 July 2024, 94% of the participating bondholders, who represent approximately 89% of the outstanding principal, backed the proposed plan.

The reorganization plan was subsequently filed with the court on 16 July 2024. A court hearing to decide on the proceedings is expected on 6 August 2024. PlusPlus Capital has promised to update the public on the court's ruling in due course.

PPC is a company specializing in the acquisition of overdue loans and non-performing exposures, operating mainly in Estonia, Latvia, Lithuania, and Finland. Since its inception in 2010, it has acquired over 120,000 claims with a nominal value of around EUR 270 million.