Sun Finance issues bonds in amount of 50 million euros

  • 2022-09-21
  • Lucas Bolt

Sun Finance, a Latvia-based fintech, has launched its largest bond issue to date in the amount of EUR 50 million. The raised funds will be invested to finance the company’s further growth as well as to refinance the second bond issue. 

The new bond issue size is EUR 50 million, with the annual coupon rate of 11% + 3M EURIBOR and a three-year maturity. The bonds are offered to investors in the form of a private placement, with a minimum investment of EUR 100 000; an exchange opportunity was offered to the existing bondholders who own the bonds with the maturity date on 30 September 2022, thus extending their cooperation with Sun Finance. Similarly, to the previous two bond issues, the company is planning to list the new bonds on the Nasdaq First North market.

“This is the fourth time we have issued bonds to finance Sun Finance’s rapid growth, and, what’s important, we have always managed to substantially increase the issue size. Our investors have placed trust in the business development strategy we have chosen, which is also evidenced by the consistently increasing number of investors. We will use the raised funds to expand our product portfolio and penetrate new markets,” informs Toms Jurjevs, founder & CEO of Sun Finance.

As before, this Sun Finance’s bond issue was organized by Signet Bank. The capital markets team of Signet Bank assists companies from the Baltics with debt structuring, capital management, and attraction of funds in the capital markets.

“During our cooperation, Sun Finance has seen rapid growth, becoming Latvia’s leading fintech, and we are truly pleased to support them along the way, given that bonds have become an important source of funds for the company. Thanks to the strong financial results, the company has managed to create a large base of loyal investors, which has also been reflected by the bond exchange results, when, like before, most of the investors chose to extend their cooperation with the company,” says Kristiāna Janvare, Head of Investment Division at Signet Bank.

Since its inception in 2017, Sun Finance has issued a total of one and a half billion euros in loans. The company’s success has also been recognized by the UK-based business outlet Financial Times, which for two consecutive years has named it among Europe’s fastest-growing companies. What’s more, last year the company topped the rating of Europe’s fastest-growing financial technology companies

Sun Finance is a financial technology company that provides online consumer finance services. The company operates in seven countries on three continents, with its headquarters based in Riga. Sun Finance has more than 9 million registered customers and employs more than 1100 people, 150 of whom work at the head office in Riga. Sun Finance was established by the founder & CEO Toms Jurjevs and co-founder Emīls Latkovskis.

For additional information please contact Ms. Sindija Liepiņa, Sun Finance Group PR manager, [email protected]