One of the fastest growing online consumer lending companies in Europe Sun Finance plans a new bond issue to refinance the existing unsecured notes (LV0000860112) maturing in September 2025. The bonds will be issued through a private placement with a total value of up to EUR 50,000,000 and the following terms:
| ISIN | LV0000103307 |
| Security Type | Unsecured (guaranteed) bonds |
| Issue Size | Up to EUR 50,000,000 |
| Minimum Subscription | EUR 100,000 |
| Nominal Value per Bond | EUR 1,000 |
| Annual Coupon Rate | 10.00% |
| Coupon Payment Frequency | Monthly |
| Maturity Date | 29 September 2028 |
| Principal Repayment | At maturity |
| Exchange fee | Fee to existing investors who roll into the new bonds: 1.00% |
The subscription period for the private placement begins on March 12, 2025, which also marks the start of the three-week exchange period, ending on April 2, 2025. The new bonds are expected to be admitted to trading on the alternative market First North within twelve months of the issue date.
This announcement does not constitute an offer or invitation to any person to subscribe for or to purchase bonds.
Notes issue and exchange offer have been arranged by Signet Bank AS.
About Sun Finance Group and Sun Finance Treasury Limited
Sun Finance Treasury Limited is 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 nine countries across four continents, with headquarters in Riga, Latvia. Sun Finance has more than 18.8 million registered customers and employs around 1,400 people, 180 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.