The offer will be made in all three Baltic States, allowing the company to raise up to 15 million through a bond issue. Both retail and institutional investors will be able to invest in the bonds, which have a fixed annual interest rate of 10% per year, payable monthly, and a maturity of four years. The subscription period will run from September 2 to September 16.
Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup, said, “DelfinGroup is a bond issuer with a successful track record in the bond market since 2013, and this will be the first time our bond offering will be available to the public – in all three Baltic States... We will offer bonds with a lower nominal value of 100 euros to make them accessible to a wider range of retail investors, while also providing an opportunity for institutional investors to participate."
The funds raised from the bond issue will be used to refinance the company's existing bonds and liabilities. The arranger of the bonds issue is AS Signet Bank and their trading is planned on Nasdaq Riga, the Baltic regulated corporate bond market.
During the public offering in Latvia, Lithuania and Estonia, DelfinGroup will offer investors to purchase 150 000 bonds with a nominal value of 100 euros each, a fixed interest rate of 10% and a maturity of four years. The subscription period is two weeks, starting September 2 and ending September 16 this year.
