Investment Evolution Credit, a fintech group specialising in online consumer loans, has appointed Axis Capital Markets to act as its corporate broker.
As part of the role, Axis Capital Markets will also conduct IEC’s recently announced £100m bond offering, the IEC 15% fixed rate unsecured bond 2024.
IEC has obtained a Financial Conduct Authority (FCA) consumer lending licence under the consumer brand, IEC Credit. The group revealed that the bond proceeds are expected to be immediately deployed to fund new consumer loans in the firm’s US state-licensed lending business, Mr. Amazing Loans, as well as to fund new consumer loans in the UK upon the launch of its UK lending operations by early 2025.
The IEC bond offering will also be an ongoing bond series, with the first tranche expected to be issued this month and with planned ongoing monthly bond tranche issuances thereafter.
CEO of IEC, Paul Mathieson, said: “Within only days of launching our up to £100m 15% per annum IEC Bond offering, we are excited to announce significant initial investor interest and the appointment of a leading UK institutional corporate broker, Axis Capital Markets, to conduct our bond offering.”
Axis Capital Markets CEO, Richard Hutchison, added: “We are pleased to be engaged as corporate broker for IEC.
“IEC is an exciting fintech company on the verge of a potentially rapid growth cycle to be funded by the attractive IEC 15% bond offering.”
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