Latvia-based fintech that provides online consumer finance services, Sun Finance has launched its largest bond issue to date in the amount of €50 million. The raised funds will be invested to finance the company’s further growth as well as to refinance the second bond issue.
The bonds are offered to investors in the form of a private placement, with a minimum investment of €100, 000. An exchange opportunity was offered to the existing bondholders who own the bonds with the maturity date on 30 September 2022, thus extending their cooperation with Sun Finance. Similarly, to the previous two bond issues, the company is planning to list the new bonds on the Nasdaq First North market.
The company operates in seven countries on three continents and has more than 9 million registered customers.
Toms Jurjevs, founder and CEO of Sun Finance said: “This is the fourth time we have issued bonds to finance Sun Finance’s rapid growth. We have always managed to substantially increase the issue size. Our investors have placed trust in the business development strategy we have chosen, which is also evidenced by the consistently increasing number of investors. We will use the raised funds to expand our product portfolio and penetrate new markets.”