Subscriptions for DelfinGroup bonds with a 10% coupon rate begin
DelfinGroup, a Latvian financial technology or fintech company, announces a public bond offering of 15 million euros in all three Baltic States with a fixed annual interest rate of 10%, monthly interest payments and a maturity of four years. The subscription period will run until September 16. The minimum subscription threshold for the bonds is 100 euros.
"DelfinGroup has been a bond issuer on the capital market since 2013 and now, for the first time, our bonds will be available to the public in all three Baltic States. More than 9,500 shareholders and 500 bondholders have shown their trust in DelfinGroup and we are committed to continuing on this growth path. We are particularly pleased to offer this public issue in Latvia, Lithuania and Estonia, thus broadening the range of interested parties who can apply for the bonds. We will offer the bonds with a lower nominal value of 100 euros to make them available to retail investors, allowing retail investors to invest alongside institutional investors and become part of our success story," says Didzis Ādmīdiņš, Chairman of the Board of DelfinGroup.
DelfinGroup will use the funds raised from the new bond issue 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.
Sustainable growth
DelfinGroup continues to show dynamic and sustained growth, increasing results in all business segments - in the second quarter of this year the company's revenue increased by 24% year-on-year to 14.8 million euros, while profit before tax increased by 18% to 2.3 million euros. In the first half of 2024, DelfinGroup revenue increased by 25% compared to the same period last year, reaching 29.1 million euros, while profit before tax increased by 15% to 4.4 million euros.
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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