October 8, 2021
Eleving Group successfully issues EUR 150 million Corporate Bonds
Riga, Latvia, 8 October 2021. Eleving Group (the “Issuer”, formerly known as Mogo Finance), a Latvian head-quartered leading provider of financial solutions in Central Europe, CIS & East Africa, rated B- (stable) by Fitch Ratings, is pleased to announce the successful issue of a EUR 150 million corporate bonds (ISIN: XS2393240887) at par with an annual interest rate of 9.50% and a maturity in the year 2026. Settlement is expected to take place on 18 October 2021. The issue was comfortably oversubscribed.
The new bonds are expected to be included in the Open Market of the Frankfurt Stock Exchange on or about 18 October 2021. The new bond is aimed to be listed on a Regulated Market four months thereafter.
The previous bonds (ISIN: XS1831877755) in accordance with Condition 6.3 (Early voluntary redemption by the Issuer (call option)) of the Terms and Conditions will be redeemed on 20 October 2021. The redemption amount for each bond (being 102.375 percent. of the Nominal Amount) together with the accrued but unpaid interest will be paid to the previous bondholders.
Oppenheimer & Co. Inc. acted as sole bookrunner, Signet Bank AS and Bankhaus Scheich Wertpapierspezialist AG as co-managers. Aalto Capital (Germany) acted as Financial Advisor to the Issuer.
Modestas Sudnius, CEO of Eleving Group: “We are pleased and grateful to existing and new investors from all across Europe who supported us and showed trust in our company. The proceeds will help to further optimize Eleving Group`s cost of borrowings and will support the company’s further growth. We will continue developing our mobility and financing platform while introducing new products and investing in digitalisation.”
Further information:
Agita Baltbārde
Group Chief Corporate Affairs and Investor Relations Officer
+371 29 133 073