Total demand for the bonds was significantly higher than required at 22.3 million euros from more than 2,700 retail and institutional investors.
Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup, said: "We have not only achieved, but also significantly exceeded our target - total demand for bonds was almost 50% higher than the issue size. The company now has 9,500 shareholders who have shown their confidence in DelfinGroup and more than 3,000 bondholders. Their high level of interest is a clear signal of confidence in our company, its solid business model and strong corporate governance. Thanks to the bondholders for this confidence!”
"The majority of the 2,700 investors come from Estonia, but in terms of investment, 60% of all demand comes from Latvian investors. The average subscription order size is 8.2 thousand euros," added Ādmīdiņš.
In total, DelfinGroup has completed 13 bond issues, most of which have already been redeemed.
"DelfinGroup has been raising funds in the bond market since 2013, but 2024 was the first time the company has issued public bonds across the Baltics, appealing not only to its institutional investors but also to retail investors, who could participate in the issue starting from 100 euros," said Edmunds Antufjevs, Head of Investment Banking Signet Bank AS, the arranger of the bond issue.
DelfinGroup bonds will be listed on the Nasdaq Riga Baltic regulated market. DelfinGroup said it will use the funds raised from the new bond issue to refinance the company's existing bonds and liabilities.
