Signet Bank participates in the arrangement and distribution of an additional bond issue for IuteCredit Europe (Estonia). IuteCredit has issued additional Eurobonds in the amount of EUR 10 million, thus increasing the total issue volume to EUR 50 million. The bonds are admitted to the Regulated Market of the Frankfurt Stock Exchange.
IuteCredit is one of the leading consumer lenders in Europe, serving customers in Moldova, Albania, North Macedonia, Bulgaria, as well as Bosnia and Herzegovina. IuteCredit loan products include loans to customers through cooperation partners (retailers), installment loans, and car-secured loans.
The bond issue helps IuteCredit grow and develop. In fact, this additional issue is the only test of investor confidence in our business performance, and therefore in our team, processes, and technologies. In the current circumstances, we consider this a special success, and we are grateful to have raised funds from existing and new investors.
Tarmo Sild, CEO of IuteCredit
We are pleased to support IuteCredit in attracting investment, taking responsibility for underwriting bonds in the Baltic States. This is the first project where Signet Bank is directly involved in the distribution of Eurobonds to the issuer from Estonia, which allows us to strengthen our position as a bond underwriter in the Baltic region, as well as to develop relationships with institutional investors and partners in the region.
Roberts Idelsons, Chairman of the Board at Signet Bank
The bank was founded in 1992 as Latvijas Biznesa banka. Since 2013, it has focused its strategy on servicing entrepreneurs and their businesses, 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, which includes SIA Hansalink, SIA Fin.lv, and Signet Acquisition III.