Sun Finance Lists the EUR 50 Million Bond Issue on the Nasdaq First North Market

The size of the Sun Finance bond issue is 50 million euros. The bonds have a nominal value of 1,000 euros and a floating annual coupon rate of 11% + 3M EURIBOR, with interest paid monthly. The maturity of the bonds is September 30, 2025. The bonds have been admitted to trading on the Nasdaq First North market starting from April 6, 2023.

“Globally, this has been a challenging year for everyone, therefore we are pleased that we have managed to maintain rapid growth and continue to show strong financial results. This has been largely possible due to the broadening of our product range and expansion in new markets, which we were able to achieve by issuing bonds worth 50 million euros, which is a significant amount for our region. We appreciate that investors continue to show trust in our chosen business strategy, and we are pleased that listing our bonds on the First North alternative market allows more and more investors the opportunity to become part of our success story,” says Toms Jurjevs, the founder and CEO of Sun Finance.

Sun Finance has completed five bond issues in total, three of which have already been fully redeemed, and this is the third time that the company’s bonds have been listed on the First North alternative market of Nasdaq Riga.

“We are pleased that Sun Finance has repeatedly – for the third time – chosen to list bonds on the First North market to continue to implement growth goals”, says Daiga Auziņa-Melalksne, CEO of Nasdaq Riga. “We welcome and are happy for a company that knows how to take advantage of the stock exchange and continues to gain the trust and interest from the investor community”.

The issuance of Sun Finance bonds and their listing on the exchange were carried out in collaboration with the capital market team of Signet Bank, which advises Baltic companies on debt and equity structuring and capital raising.

“We are delighted that the bond financing has provided Sun Finance with the opportunity to implement its growth plans and successfully develop its business on an international scale. Local investors were mainly involved in this bond issuance. This demonstrates the growing activity of Baltic investors and can serve as an encouragement to other Baltic companies that the local market can be a good source of financing,” says Kristiāna Janvare, Head of “Signet Bank” Investment Division.

First North is a multilateral trading facility (MTF) tailored to support growing ambitious companies that want to raise capital and get the visibility and credibility of being a public company.