Signet Bank provided support to DelfinGroup for the inclusion of bonds in the First North market.
We are pleased to be a Certified Adviser of DelfinGroup on First North and will continue to support the company in its future development. DelfinGroup is an excellent example of how local capital markets can help an ambitious entrepreneur attract finance and continue its growth.
Roberts Idelsons, CEO at Signet Bank
This is already the fourth bond issue that DelfinGroup enters Nasdaq Baltic First North, and we see that the presence in the capital markets can lead to sustainable long-term cooperation with investors. Even despite the impact of Covid-19 on the financial markets, we are satisfied with the results – while the previous bonds were mostly purchased by local private investors, the latest issue included both private and institutional investors from Lithuania and Estonia. A direct link between Nasdaq CSD and Clearstream Frankfurt also allowed Western European institutional investors to participate in the issue.
Agris Evertovskis, Chairman of the Board at DelfinGroup
Banknote brand owner DelfinGroup is a licensed consumer lending company founded in 2009 and operating in the largest pawnshop chain in Latvia with 87 branches in 38 major cities of Latvia. This bond issue amounts to EUR 5 million with a nominal value of EUR 1,000 each. Bonds are secured by a commercial pledge for all DelfinGroup assets. With an annual interest rate of 14%, the maturity of the bonds will be 25 November 2022.
About First North
First North is a multilateral trading facility (MTF) tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. Respectively, for investors, First North offers an opportunity to invest in companies that are in relatively early stages of their growth. First North is an alternative market and is often seen as a first step towards trading on the regulated market.
Signet Bank was founded in 1992 as Latvijas Biznesa banka. Since 2013, it has focused its strategy of servicing high net worth individuals and their companies, with an emphasis on high-quality capital maintenance and structured investment projects. Signet Bank’s majority shareholders are a group of Latvian and international investors, chief among them being SIA Hansalink, SIA Fin.lv and Signet Acquisition III.