Sun Finance bond issue

About Company

Founded in 2017, Sun Finance Group is one of the fastest-growing online consumer lending companies in Europe.

The Group was ranked No 2 in the new Financial Times list of 1000 fastest-growing European companies, marking the first time that a company from Latvia has ranked in the top 50.

Sun Finance operates in 7 markets across 3 continents – Latvia, Denmark, Sweden, Poland, Kazakhstan, Vietnam and Mexico, employing more than 600 people.

Highly experienced manegement team with extensive fintech, risk and audit experience.

In 2018, the Group attracted an experienced strategic investor, who is also the owner of Europe’s largest used car lender and leading peer-to-peer lending platform.

Additional information:

https://sunfinance.group/investor-relations

Term Sheet

Issuer

Sun Finance Treasury Ltd

Sector

Non bank financing

Type

Private placement

Security type

Senior unsecured bonds

Issue size

EUR 10 000 000

Coupon rate

11.00%

Coupon frequency

Quarterly

Price

100%

Term

20.08.2021 (bullet)

Call option

@101%

Put Option

Nominal value

EUR 1 000

Minimum subscription

EUR 50 000

Covenants

Interest coverage ratio at least 2.00x
Capitalization ratio at least 20%
Gross unencumbered loan portfolio / Notes issued at least 1.20x

Use of proceeds

Ordinary course of business

Arranger

Signet Bank AS