DelfinGroup successfully issues bonds in the amount of € 3.5 million

On 30 September 30 2020, the subscription to the SIA DelfinGroup unsecured bond issue totalling € 3 500 000 was successfully completed. The annual coupon rate of the bonds is 12%, with a monthly coupon payment and a maturity date at 25 November, 2022.

The arranger of the issue was AS Signet Bank, and the demand for bonds significantly exceeded the supply. This is a positive signal for SIA DelfinGroup about investors’ confidence in the company’s business model and growth prospects.

DelfinGroup chairman of the board Agris Evertovskis shared his opinion on the bond placement: “We had been expecting high demand for our securities in the current issue, but the fact that the demand exceeded the supply was a pleasant surprise to me. We have been continuously implementing changes aimed at improving our business model, strengthening our balance sheet, and developing corporate governance. Obviously, investors appreciate it. I am proud of the achievements of our team.”

DelfinGroup member of the board and CEO Didzis Ādmīdiņš commented: “Taking into account the unpredictable conditions for the Latvian and global economy, we expect a strong Q4, and an increase in demand for our services. The attracted financing in the amount of € 3.5 million will allow us to significantly increase our competitiveness in the Latvian market and offer custom finance solutions to our customers. We are proud of the high investor rating of our business.”

DelfinGroup CFO Kristaps Bergmanis added: “Importantly, this issue of bonds affirms the potential of reducing financing costs. Raising capital lets us attract new investors, and ensure the adequate proportion of corporate bonds to the debt originating from Mintos marketplace. We highly appreciate the professionalism of the team at Signet Bank in arranging the bond issue and attracting investors.”

The unsecured bonds issue was a private placement to up to 150 investors, with a minimum investment of € 10 000. The subscription for the issue started on 23 September 2020 and ended on 30 September 2020. Arranger of the issue was AS Signet Bank.

SIA DelfinGroup is a licensed consumer lending company founded in 2009. The Group represents such brands as Banknote, VIZIA and Riga City Pawnshop. The Group’s core services are pawnbroking loans, consumer loans, as well as senior loans, the terms of which are specially adapted for senior consumers. The Group operates in 38 Latvian cities and towns with a total of 87 Banknote branches, and the company is also represented in the digital environment with remote service provision in the field of consumer loans and an online store. The company employs more than 270 professionals. SIA DelfinGroup is an active member of the Alternative Financial Services Association of Latvia (LAFPA), the country’s main independent organization of alternative finance businesses.


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