Creditstar Group is pleased to announce it successfully issued bonds in the total amount of € 20.00 million with maturities of 18 and 30 months. The proceeds of the offering will be used to redeem maturing bonds and finance loan portfolio growth across multiple markets.
Creditstar Group’s diversified investor base spans across Europe and has more than 300 bond investors. Over 50 new investors subscribed to the latest bond issue. The private issuance was registered by Nasdaq CSD SE.
Aaro Sosaar, CEO of Creditstar Group, said “Creditstar successfully continues to grow in 2020. Despite Covid-19, strong investor demand reflects the strength of Creditstar’s outlook and confirms investor confidence in the credit quality of Creditstar Group.”
Chief Business Development Officer of Creditstar Group, Valter Kaleta, added “The money raised will support the Group’s development and enable it to continue the roll-out of its Purchase Finance products. As a result, Creditstar Group is ramping up its growth with confidence.”
Creditstar, a provider of consumer financial services, was established in 2006 in Tallinn, Estonia. Today it operates in Estonia and seven other countries across Europe, including Finland, Sweden, Poland, UK, Czech Republic, Spain, and Denmark. The Group has offices in Tallinn, Warsaw, London, and Vilnius. The Company offers unsecured online and mobile consumer loans in amounts up to €10,000 for a period of 5 days to 36 months (or longer in case of credit line).
Creditstar has had three successful quarters in 2020. Creditstar Group’s profit was €5.2 million and total assets as of 31 October 2020 were more than €150 million. Creditstar is regulated and licensed by relevant supervising authorities in all its markets.