FZ Capital bond issue

About company

Established in 2005, FZ Capital is a licensed non-bank lender specializing in real estate-secured financial solutions.

The Company offers business loans, consumer loans and lines of credit in Latvia as its main products.

FZ Capital maintains a conservative portfolio loan-to-value (LTV) ratio of 42% and the collateral is well-diversified, including different types of properties from various regions in Latvia.

Over 20 years of operations, FZ Capital has had less than 1% of issued loans written off. The Company has been achieving consistent profitability for the past 15 years.

Additional information: https://signetbank.com/wp-content/uploads/2026/04/FZ-Capital-teaser-3rd-tranche-EN.pdf

Term Sheet

Issuer

SIA FZ CAPITAL

Security type

Secured bonds

Offer type

Private placement

Collateral

2nd ranking commercial pledge on assets of the Company

Tranche Issue size

EUR 5 000 000

Bond program

Up to EUR 30 000 000

Coupon rate

Coupon frequency

Monthly

Maturity

16.04.2029 (3 years)

Principal repayment

Maturity date, bullet

Call Option

Year 1 – no call
Year 2 – @101%
6 months before maturity – @100%

Put Option

Change of Control – @101%

Nominal value

EUR 1 000

Minimum subscription

EUR 100 000

Listing

Listing on Nasdaq Riga First North within 18 months after the Issue Date

Use of proceeds

– Financing growth of loan portfolio
– General corporate purposes

Covenants

– Capitalization Ratio > 20%
– Portfolio Coverage Ratio > 1.20x
– Interest Coverage Ratio > 1.25x

Arranger

Signet Bank AS

Collateral Agent

ZAB Eversheds Sutherland Bitāns SIA

Where to invest?