Published: 2022-08-10 08:41:51 CEST
Sun Finance Treasury Limited
Company Announcement

Sun Finance Group announces plans to issue new bonds

Sun Finance Group plans to launch a new bond issue in the amount of EUR 50 million to refinance the existing bonds of EUR 15 million approaching the maturity date and to further support the Group’s geographical and product line expansion. The bonds will be offered to investors in the form of a private placement with a minimum investment of EUR 100,000.

This will be the fourth and largest bond issue to date for the Group, which is currently represented on the Nasdaq Baltic First North market with two bond issues in the total amount of EUR 35 million. Bonds have allowed the Group to diversify its financing structure and support its growth during the past years.

At the end of Q2’22, the Group’s net portfolio reached EUR 129.4 million. During the first 6 months of 2022, revenues amounted to EUR 115.9 million and EBITDA of EUR 48 million was recorded, being a margin of 41.4%. The Group maintains a strong focus on new product development and scaling, including the Buy Now Pay Later (BNPL) and installment loan product, expected to further enhance the Group’s growth path in forthcoming periods.

New Bond issue indicative terms:

Issuer Sun Finance Treasury Ltd
Type Private Placement
Minimum investment EUR 100,000
Guarantors Guarantees from the Holding company and all material Group subsidiaries
Issue size EUR 50 million
Coupon rate  11% + 3M EURIBOR, paid monthly
Term 3 years (bullet)
Nominal value EUR 1,000
Listing Planned listing on Nasdaq First North within 12 months from issue date

The Arranger of the new bond issue is Signet Bank AS.

Rollover fee for existing bondholders:

Sun Finance Group would like to maintain cooperation with the existing investors, therefore LV0000802445 bondholders who hold bonds in the amount of at least EUR 100,000 will have an opportunity to exchange the existing bonds with the new ones for a rollover premium of 1%. The exchange offer is planned to be launched in the second part of August. 

Rollover premium 1% of the invested amount

About Sun Finance Group and Sun Finance Treasury Limited

Sun Finance Treasury Limited is a subsidiary of Sun Finance Group, AS. Sun Finance is a financial technology company established in Riga, in 2017, by CEO Toms Jurjevs and co-founder Emīls Latkovskis. Sun Finance operates as an online consumer financing platform in seven countries on three continents, with headquarters in Riga, Latvia. Sun Finance has more than 9 million registered customers and employs more than 1000 people, ~150 of whom work at the headquarters in Riga. The company is led by a team of seasoned professionals with more than 15 years of experience in managing FinTech, financial and IT companies.






         Zanda Apine
         Investor Relations
         +371 263 98416

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