Eurocent S.A. reported consolidated operating loss of PLN 2.7 million and consolidated net loss of PLN 3.2 million for the second quarter of 2017.
Here is an update on the situation with Eurocent-issued loans. After missing repayment of its corporate bonds on June 8, 2017, Eurocent has continued servicing the loans and passing on all borrower payments to investors on the Mintos marketplace. Since June 8, 2017, the outstanding investment portfolio in Eurocent loans on the Mintos marketplace has decreased by 21%.
Eurocent continues to negotiate with potential investors to resolve its financial situation. However, given the still-uncertain results of these negotiations, Eurocent has submitted an application to the court to restructure the company’s debts. This is a…
Placement of new Eurocent loans on the Mintos marketplace has been temporarily suspended. The decision was made by Mintos management following the information that Eurocent has missed the repayment of its corporate bonds.
Eurocent bonds worth PLN 1.8 million (EUR 425 000) were due on June 8, 2017. According to the company’s information, the failure to make the repayment was caused by a delay in the negotiation process to attract new financing.
Following the missed bond repayment, the management of Mintos marketplace made a decision to stop the placement of new Eurocent loans on…
Mintos welcomes a new loan originator to the platform! Eurocent, a stock market-listed company, has joined the Mintos marketplace and, starting today, will place medium-term personal loans issued in Poland on the platform. This is the first loan originator from Poland to issue loans offline.
Eurocent loans placed on the marketplace will range in size from EUR 75 to EUR 2 550 with loan terms of 8 to 18 months.
Eurocent will offer a buyback guarantee for loans that are delinquent for more than 60 days.
The annual net return for these loans is expected to range from 10% to…