Capital Service loans suspended from Mintos Primary and Seco

Destiny · Anmeldedatum: 16.05.2017 Beiträge: 607

Due to a failure to make timely settlement payments to investors on Mintos*, we have made the decision to suspend loans originated by the lending company Capital Service on the Mintos* Primary and Secondary Markets. The suspension is effective immediately until further notice.

Suspension of a particular lending company occurs when Mintos* intervenes in the market – Primary, Secondary, or both – to stop investing due to concerns about a company’s operations. Once suspended, new investments cannot occur until the suspension is lifted or lapses. When both markets are suspended, this is intended to protect investors’ interests by preventing investments in new loans on the Primary market, or the sale of existing loans issued by Capital Service on the Secondary market.

Capital Service failed to transfer borrowers repayments and buyback price in full on time, resulting in accumulated pending payments for investors. At the moment, Mintos* maintains a good working relationship with Capital Service management, which has so far been cooperative when working together to find a solution. Capital Service is making partial transfers of borrowers repayments. Mintos* is working on restructuring the transfer of borrowers repayments and buybacks that have not been made by Capital Service. The exact timeline for when the full amount of pending payments will be paid is to be established.

At this point, Capital Service has been placed on negative ratings watch as we consider the possibility of a Mintos* Rating change. Resolution of the negative ratings watch depends on the company’s ability to address its liquidity constraints under the current market conditions in Poland.

About Capital Service

Capital Service S.A. is a lending company from Poland. It was founded in 1999 and together with its four subsidiaries created Capital Service Capital Group (a group founded in 2015). The group carries out its lending activity in Poland and offers unsecured payday loans and installment loans to individual customers. The current amount of Capital Service loans outstanding on Mintos* is €20 674 386. There are 59 905 investors with active investments in Capital Service S.A. loans, with the average investment per investor being € 295. The current amount of pending payments is €1,436,988.

There will be more Capital Service updates to follow as soon as we have further information.

Destiny · Anmeldedatum: 16.05.2017 Beiträge: 607

lol sorry bitte löschen Very Happy

Claus Lehmann · Site Admin Anmeldedatum: 31.08.2007 Beiträge: 18150

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