Sun Finance Group bond issue

About Company

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

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

Highly experienced management 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.

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.

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 20 000 000

Coupon rate

11%

Coupon frequency

Quarterly

Price

100%

Term

30.06.2024 (bullet)

Call option

@102% after Y1
@101% after Y2

Nominal value

EUR 1 000

Minimum subscription

EUR 100 000

Covenants

• Interest coverage ratio at least 1.75x
• Capitalization ratio at least 20%
• Gross unencumbered loans / Total senior unsecured debt at least 1.2x

Use of proceeds

Refinancing

Listing

Planned listing on Nasdaq First North within 12 months from issue date

Arranger

Signet Bank AS