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Eight Capital Partners, the international investment company, has bought €40 million 2.5% fixed rate secured bonds from IWEP.
The company, which focuses on technology, media, telecoms and financial services businesses, including listed investing companies, announced it acquired the bonds from IWEP, also a company controlled by ECP's Chairman, Dominic White.
According to the company, the proceeds will be used to scale-up the business, focusing in particular on acquisitions.
It is also expected to result in the conversion of a number of existing loans into equity and a share placing.
The companys objective is to grow its equity value, becoming increasingly attractive to investors.
ECP Chairman, Dominic White, said: This transaction affords a much stronger base from which ECP can further develop as a technology-led growth company focussed on financial services, fintech, decentralised finance and banking technology.