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Eleving Group to conduct fixed-income meetings – bond offering may follow

September 29, 2021
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Launch of Conditional Call of the outstanding EUR 100 million 9.5% 2022 Bonds

Bond offering

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 has mandated Oppenheimer & Co. Inc. as sole bookrunner and Signet Bank AS as co-manager, to arrange a series of fixed income calls starting today.

A new senior secured guaranteed bond offering, expected to be rated B- (stable) by Fitch, will follow subject to market conditions. The proceeds of the offering will be used to refinance existing debt including Eleving Group’s outstanding EUR100 million 9.5% 2022 bond (“Bond”) and for general corporate purposes.

Conditional call of EUR 100 million 9.5% 2022 Bonds (ISIN XS1831877755)

In addition to that Eleving Group hereby gives a conditional notice to the holders of the outstanding EUR100 million 9.5% 2022 Bonds, to exercise its right to redeem all of the outstanding Bonds in full on or about 20 October 2021 or later date as indicated in the Redemption Notice (as defined below) submitted to all holders by the clearing systems, but in any case no later than 30 November 2021, in accordance with Condition 6.3 (Early voluntary redemption by the Issuer (call option)) of the Terms and Conditions.

The redemption amount for each Bond (being 102.375 per cent. of the Nominal Amount) together with accrued but unpaid interest will be paid to the Holders.

Eleving Group´s obligation to redeem any of the Bonds is conditional upon the completion of the successful new issue of senior secured guaranteed bonds and the fulfillment of conditions precedent for disbursement of the net proceeds from such new bonds issue.

Eleving Group will inform the Holders by way of a notice published at least one (1) Business Day prior to the Redemption Date if the Financing Conditions are, or will not be, satisfied or waived by Eleving. If the conditions are not satisfied or waived by the Issuer on or prior to the Redemption Date, the Bonds will remain outstanding, and interest will continue to accrue in accordance with the Terms and Conditions.

Further information:

Agita Baltbārde

Group Chief Corporate Affairs and Investor Relations Officer

+371 29 133 073

agita.baltbarde@eleving.com