DelfinGroup bond subscription period ends in 5 days
On Monday, September 16, the subscription period for the public offer of the Latvian financial technology or fintech company DelfinGroup will close. The bond issue is taking place in all three Baltic States and amounts to 15 million euros with a fixed annual interest rate of 10%, monthly interest payments and a maturity of four years. The minimum subscription threshold for the bonds is 100 euros. Both retail and professional investors can subscribe to the bonds.
Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup, says: "This is our first public bond issue offered throughout the Baltics. This step not only broadens our investor base by attracting private investors, but also contributes to the further growth of the company and strengthens our competitiveness in the market, ensuring sustainable development. The coupon is paid to the bondholders on a monthly basis, ensuring a stable and predictable income."
DelfinGroup is a bond issuer with a long track record in the capital market, with 7 bond issues repaid on time. Since its inception in 2009, the company has been consistently profitable and has shown steady growth. For more than 10 years, the company's growth has been supported by a diversified funding structure, which has always been based on bond financing that has delivered high returns to investors.
DelfinGroup will use the funds raised in the new bond issue for strategic purposes - to refinance the company's existing bonds and liabilities. In order to value the long-term relationship with bond investors, bonds maturing on September 25 this year with ISIN LV0000850055 will be exchangeable for the new bonds.
Main terms of the offer
During the public offering in Latvia, Lithuania and Estonia, DelfinGroup offers investors to purchase 150 000 bonds with a nominal value of 100 euros per bond, a fixed annual 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 on September 2 and ending on September 16 this year.
Offer timetable
Start of the Offer Period - September 2, 2024 at 10.00 (GMT+2)
End of the Offer Period - September 16, 2024 at 14.00 (GMT+2)
Announcement of results - approximately September 17, 2024
Settlement - approximately September 20, 2024
Disclaimer: This communication is an unpaid marketing communication under the Prospectus Regulation and does not constitute investment advice or an offer. The information contained herein contains general forward-looking statements about DelfinGroup AS's intention to conduct a public offering of the Bonds. Each investment decision must be made on the basis of a prospectus approved by the Bank of Latvia. The approved prospectus is published on the website of AS DelfinGroup.
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
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