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SIA ExpressCredit releases bonds in the amount of 5 million euros
Emitents DelfinGroup, AS (iepriekšējais nosaukums - ExpressCredit, SIA) (2138002PKHUJIMVMYB13)
Veids Citi
Valoda EN
Statuss Publicēts
Datums 2014-03-28 14:24:25
Versijas komentārs

Latvian largest network of pawnshops SIA ExpressCredit that works with brand Lombards24.lv has completed bond issue, thereby attracting 5 million euros for development of the business of the company. In general, 5000 bonds were issued with an original nominal value of 1000 euros. Yearly interest rate of the coupon is 14% with a 5 year term and gradual repayment.

As a result of a successful bond issue, bonds of SIA ExpressCredit are listed on the NASDAQ OMX Riga Baltic Bond list where they will be available for public trade.  

Management of the company explains bond issue with the need for more effective financial management, refinancing the existing loans on more favourable terms, as well as the necessary investments to strengthen the competitiveness of the company in non-bank lending sector. 

“At the moment, we are market leader among the pawnshops with about 30% market share, however, regarding the company's prospects for development, we plan to gradually develop other types of non-bank credit forms – loans without collateral and car leasing. Currently, we already have 204 thousand registered customers who have used some of our loans. This shows that people trust us and our services are needed. It is important for short-term loan recipients to talk face to face with our consultants in our branches in a safe environment who will explain all borrowing conditions," Chairman of the Board at SIA ExpressCredit Agris Evertovskis said, stressing that personal contact with the customer in a branch is a significant advantage of competitiveness over the speed loans that are made via the Internet. 

In the recent years, SIA ExpressCredit has made significant investments to develop branches all over Latvia and provide comfortable and secure services – all branches are modernly furnished, there are video surveillance cameras installed in them, as well as all pledges are insured and stored in a special vault that is equipped with an alarm system. 

Management of the company is pleased with the high interest of investors to buy its bonds. "A successful bond issue is a confirmation to the fact that we work transparently and openly, according to the best standards of corporate governance," Chairman of the Board at SIA ExpressCredit Agris Evertovskis said. 

Issue of bonds was organized by AS Baltikums Bank. 

According to unaudited data of 2013, turnover of SIA ExpressCredit was 13.67 million euros, profit – 370 280 euros, but 1 987 980 euros were paid in taxes. The company averagely employed 277 employees in 2013. 


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SIA ExpressCredit is a licensed non-bank lending institution, which was founded in the 2009. SIA ExpressCredit operates 95 branches under the brand name Lombards24.lv in 38 largest Latvian cities and towns, offering loans against pledge of movable property (Lombard credits), loans without collateral, loan against vehicle collateral and mortgage loans. The Company has provided services to more than 200 thousand customers. The owners of SIA ExpressCredit are SIA Express Holdings (51%), SIA Ebility (24,5%) and SIA AE Consulting (24,5%).  


         Agris Evertovskis
         Chairman of the Board
         Fax: +371 67809194
         E-mail: agris.evertovskis@lombards24.lv