AS DelfinGroup bond issue

About company

DelfinGroup, established in 2009, has grown to become Latvia’s leading financial services provider, operating the largest pawn shop network in the country under the Banknote and VIZIA brands, with 96 branches.

With a diverse range of services, DelfinGroup derives most of its revenue from consumer loans, followed by pawn loans and retail of pre-owned goods, showcasing a well-balanced business model.

At the end of 2023, DelfinGroup expanded into Lithuania by opening 5 new branches, with plans to introduce consumer loans across the country in 2024. To further strengthen its regional presence, DelfinGroup secured a consumer loan service license in Lithuania in Q2 2024, marking a key milestone in its expansion.

Since October 2021, DelfinGroup shares are listed on Nasdaq Riga regulated market with free float of 47.4% and current market capitalization of EUR 47.6 million.

In June 2024, DelfinGroup’s net loan portfolio reached EUR 101.5 million.

The Group has strong financial health, boasting a capitalization ratio of 29% and interest coverage ratio 2.5x. The new bonds will be unsecured, ranking equally with the Group’s existing unsecured debt and any future debt unless specifically subordinated.

Additional information:

https://www.delfingroup.lv/reports

https://signetbank.com/wp-content/uploads/2024/09/DelfinGroup-Public-Bonds-teaser-EN.pdf

Term Sheet