This will enable Noteholders who wish to maintain their economic exposure to IuteCredit Finance S.à r.l. to roll their investment directly into new bonds, if the Bonds’ Issuer, IuteCredit Finance S.à r.l., intends to perform such a rollover without any cash changing hands. The Issuer, Mintos Finance No. 45, proposes to enable such a possibility by distributing the Bonds in specie to Noteholders in exchange for the cancellation of their Notes.