Latest update on Eurocent

17.04.2018

mintosblog

Due to Eurocent’s complex property and legal situation, and its inability to obtain an investor, as of March 20, 2018, Eurocent has ceased its operations. According to the compulsory administrator of Eurocent, continued operating activity is economically unjustified and there are no real prospects for the implementation of the arrangement and restructuring of the company.

It is our priority to protect the interest of our investors and we are currently doing everything possible to ensure this.  Our lawyers are now reaching out to the administrator and the board of Eurocent to see how we…

Current situation with Eurocent

06.02.2018

mintosblog

Here is another update on the situation with Eurocent.

As the compulsory administrator was appointed to Eurocent, all commercial decisions now require his approval. Because of this, regular settlements with Mintos were stopped by Eurocent in December 2017. Meanwhile, the District Court of Krakow has not yet reached a decision whether Eurocent can commence the formal restructuring process.

The management of Mintos continues to be in close contact with the administrator of Eurocent about the company’s situation and possible future developments. Currently, Mintos is in the process of evaluating all options…

Latest update on Eurocent

12.01.2018

mintosblog

Here is the latest update on the situation with Eurocent. Since June 8, 2017, the outstanding investment portfolio in Eurocent loans on the Mintos marketplace has decreased by 52%. The total amount outstanding is EUR 190 000, averaging EUR 118 per investor.

In November 2017, a letter of intent between Eurocent and a Polish investor operating as a closed-end investment fund of private assets was signed. This means the investment fund is willing to enter into an agreement with Eurocent and invest around EUR 30 million in loans issued by Eurocent over…

Update on Eurocent

13.10.2017

mintosblog

  • Uncategorized
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Here is the latest update on the situation with Eurocent. The company continues servicing the loans and passing on borrower payments to investors on the Mintos marketplace. As a result, since June 8, 2017, the outstanding investment portfolio in Eurocent loans on the Mintos marketplace has decreased in total by 43%.

After suspending automatic buyback of the delinquent loans on the Mintos marketplace in July, Eurocent made a partial buyback of the loans according to company’s financial ability in the amount of EUR 71…

Eurocent S.A. financial results for Q2 2017

16.08.2017

mintosblog

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.

See report >

Eurocent continues servicing loans

27.07.2017

mintosblog

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 temporarily suspended

26.06.2017

mintosblog

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…

Poland’s Eurocent joins Mintos marketplace

17.03.2017

mintosblog

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…