Debitum Agricultural loan 🟢 En souscription

Baltic Terra Capital — Series LV0000110708 Junior Notes

Fragile

score / 100

Yield

12.25%/yr

Duration

24 months

Min. ticket

10 €

Amount raised

200 k€

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À propos

Issuance of junior bonds (series LV0000110708) by SIA Baltic Terra Capital, Latvian company incorporated June 2025, specialising in acquisition, management and sale of agricultural land in Latvia. Raising of 200,000 EUR on Debitum Investments platform to finance acquisition of new agricultural land and working capital. Maturity March 2028, monthly interest repayment, junior ranking subordinated to Senior series.

Plateforme · 15.1/25

A1 · Statut réglementaire 5.0/8

Regulated by the FCMC of Latvia under MiFID II, but absence of AMF licence or ECSP ESMA tier 1
Equivalent EU licence recognised (status confirmed Latvia)

A2 · Track Record 4.6/6bon

Adjusted score thanks to live data: Default 0% (6pts) × 0.5 + Delay 3% (6pts) × 0.3 + Yield N/A (3pts) × 0.2 - opacity penalty (-0.5pt) = 4.6/6
No definitive loss published, 3% in recovery, 97% performing

A3 · Rigueur de sélection 2.0/4

Selection process mentioned (partner originators, borrower KYC), but no published selection rate or detailed description of the analysis committee

A4 · Santé financière 2.0/4

Adjusted score thanks to live data: Profitability achieved in 2025 after years of losses
AUM €135.5M (June 2025), equity €758K
Sound growth but weak equity capital
Platform survival risk moderate

A5 · Protection investisseurs 1.5/3

MiFID II regulation imposes cooling-off period and continuity plan (1pt)
Originator buyback guarantee documented (0.5pt)
No operational secondary market identified

Projet · 33.0/75

B1 · Instrument & Structure 6.0/10

B1.1: 2/5 - obligation convertible-like Junior subordinated to Senior series

B1.2: 3/3 - Dedicated société dédiée (SPV) SIA Baltic Terra Capital, clear Latvian law

B1.3: 1/2 - No known senior debt in precise ranking, contractual subordinated ranking but registered pledge

B2 · Opérateur & Track record 5.0/15faible

B2.1: 2/4 - Jānis Lezdiņš appointed, sole managing shareholder, no verified LinkedIn profile

B2.2: 1/5 - Company incorporated June 2025, first transaction, AGRI experience not documented

B2.3: 0/3 - No history on Debitum or elsewhere

B2.4: 2/3 - No proceedings, positive inaugural balance sheet (265K€), very recent structure

B3 · Garanties & Sûretés 8.0/15

B3.1: 6/9 - Commercial pledge over all assets and shares registered in Latvian commercial register, 150% nominal

B3.2: 1/4 - Guarantor = issuer itself, company 5 months old, financial statements not published separately, very partial information

B3.3: 0/2 - No banking partner identified, amount <€2M

B4 · Structure financière 6.0/15faible

B4.1: 3/5 - Land Loan-to-Value (ratio prêt/valeur actif) not calculable precisely, nascent portfolio; Loan-to-Value (ratio prêt/valeur actif) 60-70% assumption retained prudentially

B4.2: 1/4 - Operator's own funds very weak, quasi-totality financed by bond debt

B4.3: 1/4 - No stress testing presented, Loan-to-Value (ratio prêt/valeur actif) not confirmed low

B4.4: 1/2 - Positive operating result (265K€ in 5 months), but history non-existent

B5 · Pré-commercialisation 3.0/10faible

Nascent AGRI company (June 2025), rental income in progress according to prospectus, lease agreements with farmers not detailed in documents provided
Harvest history absent

B6 · Permis & Maturité 3.0/5

Nascent activity (<1 year), sound legal structure (registered in Latvia, prospectus approved by Latvijas Banka), licences not detailed but Latvian law respected

B7 · Marché & Localisation 2.0/3

Latvian agricultural land market rising (x2.5 over 10 years, +16% harvest 2024)
Bullish trend confirmed by live data
Established market but geopolitical uncertainties (Ukraine) moderate score

⚠ Alertes détectées · −5 pts déduits

Aucune garantie réelle sur ce projet −5 pts

Verification - B3.1=6/9 (registered pledge documented), RF8 not triggered in accordance with consistency rule B3.1>0.

Points forts

✓Commercial pledge over all assets and shares registered at 150% of nominal.

✓Latvian agricultural land market in sustained growth (x2.5 over 10 years).

✓Prospectus approved by Latvijas Banka, EU regulatory framework respected.

✓Positive operating result from first 5 months of activity (265K€).

✓Debitum Investments platform with 0% declared default and 97% performing.

Risques identifiés

!Company incorporated June 2025 - operational history of 5 months only, no AGRI track record.

!Junior notes subordinated to Senior series - risk of partial or zero repayment in case of default.

!Operator not found in Latvian registers under number mentioned in live enrichment (number 40203653737 in prospectus not verified on live side).

!Rate of 12.25%/year beyond AGRI norm (5-10%) - to verify that guarantees compensate.

!No banking partner identified, financing entirely by bond debt, high refinancing risk at maturity.

⚠ Avertissement sur les risques

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