Towards the end of July, IuteCredit successfully issued a bond worth EUR 40 million. Following this, the leading European personal loan finance company will refinance its existing funding facilities, which will include loans funded by investors on Mintos.
Starting from August 16, 2019, IuteCredit will partially repurchase loans from investors on Mintos using their call option as stipulated in the assignment agreement. The loan originator will repurchase EUR 10 million net of loans issued to borrowers in Moldova, Albania, Kosovo and North Macedonia.
More specifically, IuteCredit intends to repurchase approximately:
- EUR 3.8 million of loans originated in Albania;
- EUR 3.7 million of loans originated in Moldova;
- EUR 1.7 million of loans originated in Kosovo;
- EUR 0.8 million of loans originated in North Macedonia.
IuteCredit will repurchase both performing and non-performing loans from investors. The set of loans that IuteCredit will repurchase from investors will be representative of the whole loan originator’s funded portfolio.
Alternative investments to IuteCredit
On Mintos, IuteCredit offers car and consumer loans for investment from the four above-mentioned countries. However, there are many loan originators with similar investment offerings on the marketplace.
In fact, we have taken the time to find the most similar investment opportunities, in terms of Mintos Rating (B or higher) and investment type (personal loans), so you can easily re-invest your funds should IuteCredit repurchase some of your investments.
The most suitable loan originators include:
- Aasa loans from Poland;
- Akulaku’s loans issued in Indonesia;
- Bulgaria-issued loans from Credissimo and CashCredit;
- Romania-issued loans from Credius;
- ID Finance loans from Spain and Kazakhstan;
- Kviku’s loans from Russia;
- Mogo, which offers car loans from multiple countries on Mintos;
- Peachy’s personal loans from the UK;
- Kenya-issued loans from Watu.