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.

Sun Finance Group has been ranked No. 3 fastest-growing fintech in Europe in the 2022 Financial Times list of 1000 fastest-growing European companies.

Additional information:

https://sunfinance.group/investor-relations

Term Sheet

Issuer

Sun Finance Treasury Ltd

Sector

Non bank financing

Offer Type

Private placement

Security type

Senior unsecured bonds

Issue size

EUR 50 000 000

Coupon rate

11% + 3M EURIBOR

Coupon frequency

Monthly

Price

100%

Term

30.09.2025

Call option

@102% after Y1
@101% after Y2

Nominal value

EUR 1 000

Covenants

• Interest coverage ratio at least 1.75x
• Capitalization ratio at least 20%
• Unencumbered net loan portfolio / Total unsecured financial indebtedness at least 140%

Use of proceeds

Refinancing and portfolio growth funding

Listing

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

Arranger

Signet Bank AS

Additional information

Sun Finance bond issue

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Sun Finance presentation

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Where to invest?