In an oversubscribed Nordic bond issue, Salmon Group Ltd., a credit-led fintech in the Philippines, raised an additional $50 million, furthering its objective of developing next-generation consumer banking in Southeast Asia.
Salmon’s total bond financing under its $150 million Nordic bond framework now stands at $110 million, the company said in a statement on Wednesday, following the $60 million initial bond issue in April 2025.
It pointed out that the issue was twice oversubscribed due to high demand from international fixed income investors, demonstrating market confidence in Salmon’s financial performance and growth trajectory.
“We are opening a new chapter for the Philippine financial services industry. The market is supported by strong macro tailwinds, a rapidly growing consumer class, and robust regulatory framework,
“On top of this, technological innovation and the network effects of an emerging credit infrastructure are compounding the opportunity,” said Pavel Fedorov, Co-Founder of Salmon.
With products ranging from revolving credit lines, physical and virtual cards, product and personal loans, motorcycle loans, and time deposits, among many other innovations in the works, he claims that Salmon Group Ltd., through its subsidiaries Sunprime Finance Inc. and Salmon Bank (Rural Bank) Inc., is leading the way in this opportunity.
“This new funding allows us to scale faster and continue transforming the legacy banking industry in the Philippines and across Southeast Asia,” he added.
