PlusPlus Capital has filed a reorganization petition with the court. Photo: Shutterstock
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On December 27, AS PlusPlus Capital, a company dealing with financial credit management in the Baltics and Finland, submitted an application to the Harju County Court to initiate restructuring proceedings.
According to Kaarel Raiki, a member of the board of directors of PlusPlus Capital, the company has submitted a restructuring request because it is temporarily having difficulty paying interest on the Eurobonds of the subsidiary listed on the Frankfurt Stock Exchange and completing several agreed buybacks.
“Despite our efforts, we were unable to sign a financing agreement to raise capital and thus make the agreed payments by the end of this year. At the same time, our business model is sustainable, our daily cash flows are positive and our assets are large. Therefore, we believe that initiating a restructuring procedure is the best way to ensure a sustainable solution for both the company and investors in today’s situation,” Raik said.
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2023-12-29 13:08:13
plusplus-capital-has-filed-a-reorganization-petition-with-the-court