DelfinGroup starts listing new bonds on Nasdaq First North alternative market

Latvian fintech company DelfinGroup on Monday, 3 July, starts listing 10 million euros bonds on Nasdaq First North alternative market of Nasdaq Riga. The company completed the issue of bonds with a floating interest rate of 8.75% and 3M EURIBOR. The par value of one bond is 1000 euros, with a maturity date of 25 September 2024.

Although the past year in the capital markets has been challenging, affecting overall investor sentiment, we are pleased with the loyalty of DelfinGroup investors. Recognising the company’s high growth potential even in volatile market conditions, investors choose to invest in DelfinGroup bonds. Investor contribution allows us to invest in developing existing and new services, including implementing innovative solutions, which is one of the company’s strategic goals. Overall, this is the eighth bond issuance since 2013, and during this period, we have raised 47 million euros through bonds, promoting the long-term growth of the company. Furthermore, this will be the sixth bond issue to be listed on Nasdaq Riga.

Aldis Umblejs, CFO and Member of the Management Board of DelfinGroup

A. Umblejs adds that with the new bond listing, investors can now access two DelfinGroup bond issues on the First North alternative market.

We are delighted for every Latvian company that can and knows how to take advantage of the benefits offered by the stock exchange. Even greater joy is felt for those entrepreneurs who are able to attract funding repeatedly on the exchange. We congratulate DelfinGroup on including their recurring bonds in the Nasdaq First North market!

Daiga Auziņa-Melalksne, Chairman of the Board of Nasdaq Riga

Signet Bank organised the issue of DelfinGroup bonds. 

DelfinGroup bond offerings always have very healthy demand from institutional investors, and this issue was no exception, with 40% of total issue subscribed by institutional accounts. The floating interest rate makes bonds attractive even in the context of increasing central bank rates, which investors have positively assessed. We congratulate DelfinGroup on another successful capital market project and look forward to active trading in the secondary market!

Edmunds Antufjevs, Managing Director of Investment Banking at Signet Bank AS

About AS DelfinGroup

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. 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. The company has been awarded the gold category in Sustainability Index 2023 of the Institute for Corporate Sustainability and Responsibility.

Signet Bank was founded in 1991 and is one of Latvia’s first independent banks. The bank’s strategy focuses on providing financing and capital management services to local entrepreneurs and their businesses. Since the start of 2021, Signet Bank has provided customers with almost EUR 500 million of financing in the form of loans and bonds. Signet Bank’s shareholders are nine Latvian and international private investors, of whom the biggest is Signet Acquisition III (25%), whose sole shareholder is US investor Aleksandrs Solovejs; AS RIT Group (19.50 %), a Latvian company owned by the Rapoport family, and SIA Reglink (15.93 %), founded by banker Irīna Pīgozne.