DelfinGroup
Inside information
DelfinGroup will issue bonds with a 10% annual interest rate, monthly coupon payment, subscription from September 2
The Bank of Latvia has approved the prospectus of the bond issue of the Latvian financial technology or fintech company AS DelfinGroup. The offer will be made in all three Baltic States, allowing the company to raise up to 15 million through a bond issue. Both retail and institutional investors will be able to invest in the bonds, which have a fixed annual interest rate of 10% per year, payable monthly, and a maturity of four years. The subscription period will run from September 2 to September 16.
Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup, says, “DelfinGroup has been consistently profitable since its inception in 2009, and the results of the second quarter of this year confirm the company’s steady growth. Revenues increased by 24% and profit reached 2.3 million euros, up 18%, compared to the same period last year. Successful operations in all business segments contribute to these results.”
“DelfinGroup is a bond issuer with a successful track record in the bond market since 2013, and this will be the first time our bond offering will be available to the public – in all three Baltic States. We are delighted to issue to the public as it allows us to continue to grow, expand our investor base and attract retail investors, as well as strengthen our market position and contribute to our sustainable development. It is also an excellent opportunity for investors as the coupon will be paid monthly, providing stable and predictable income. We will offer bonds with a lower nominal value of 100 euros to make them accessible to a wider range of retail investors, while also providing an opportunity for institutional investors to participate. ” notes Ādmīdiņš.
The funds raised from the bond issue will be used to refinance the company’s existing bonds and liabilities. The arranger of the bonds issue is AS Signet Bank and their trading is planned on Nasdaq Riga, the Baltic regulated corporate bond market.
Main terms of the offer
During the public offering in Latvia, Lithuania and Estonia, DelfinGroup will offer investors to purchase 150 000 bonds with a nominal value of 100 euros each, a fixed interest rate of 10% and a maturity of four years. Subscription is open to both retail and institutional investors. The subscription period is two weeks, starting September 2 and ending September 16 this year.
Offer timetable
Start of the Offer Period – September 2, 2024 at 10.00 (GMT+2)
End of the Tender Period – September 16, 2024 at 14.00 (GMT+2)
Announcement of results – September 17, 2024
Settlement – September 20, of 2024
The company first issued bonds in 2013 and has been an issuer of shares on the Nasdaq Baltic Main List since 2021.
Disclaimer: This announcement is an unpaid marketing communication in accordance with the Prospectus Regulation and does not constitute investment advice or an offer. The information provided herein contains general forward-looking statements on the intended Public Offering of notes of AS DelfinGroup. Every investment decision must be based on a base prospectus approved by the Bank of Latvia. An approved prospectus will be published on AS DelfinGroup website once available.
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About DelfinGroup
AS DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia and Lithuania. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.
For further information, please contact:
Artūrs Dreimanis
DelfinGroup Head of Treasury and Investor Relations
Phone: +371 26189988
E-mail: IR@delfingroup.lv
Attachments:
AS DelfinGroup_Prospectus_Bonds_20240823.pdf