Public offering period of MOGO bonds will start on February 12

February 3, 2021

On February 2, 2021, the Financial and Capital Market Commission of Latvia approved the Base Prospectus of EUR 30 000 000 Bonds Programme of AS “mogo”.

Within the framework of EUR 30 000 000, JSC “mogo” commences the public offering period for bonds that will last from February 12, 2021 to February 25, 2021. The public offering consists of two parts – subscription by new investors and exchange offer to existing bondholders.

For new subscription, the bonds will be offered to existing Mogo bondholders and retail and institutional investors from Latvia, Estonia and Lithuania.
To maintain cooperation with our existing investors, during the exchange offer all existing bondholders of JSC “mogo” bonds with the ISIN codes LV0000801363 and LV0000880029 will be offered the opportunity to exchange their existing bonds for the new bonds, in exchange for a 2% premium that will be paid together with the first new bond coupon payment.

JSC “mogo” has been represented in the Baltic capital market since year 2014. Two years after its founding, Mogo successfully completed the issue of debt securities in the amount of EUR 20 million, which was included in the Baltic Regulated Market. Currently, Mogo is represented in the Baltic capital market with two bond issues – in the total amount of EUR 30 million. The purpose of this issuance is to refinance the current bonds.

Each bond’s nominal value constitutes EUR 1 000. The minimum investment amount during the initial offering is at least one bond. Interest payments on the bonds will be made on monthly basis on the dates specified in the terms and conditions of the Bonds Base Prospectus, with annual coupon rate 11%. The bonds will mature in 3 years, however Mogo has the right to redeem the bonds prematurely.

The Base Prospectus of the bonds issuance registered with the Financial Capital and Market Commission determines the general terms and conditions of the EUR 30 000 000 Guaranteed Bonds Programme. The bonds are planned to be included in the regulated market – the Baltic Bond List of “Nasdaq Riga” stock exchange not later than on March 31, 2021. To provide investors with a convenient process for both the exchange offer of current bondholders and the new bonds subscription, the process will be intermediated via Nasdaq Riga Genium INET trading system. “Signet Bank, AS” acts as the lead manager for the bonds issuance.

AS “mogo” is part of international FinTech Group – Mogo Finance. AS “mogo” offers classical finance lease, leaseback and long term rent available in the most convenient way for the customer – online, by phone and at more than 280 affiliated car dealerships. AS “mogo” has more than 13 thousand active customers in Latvia and EUR 26 million portfolio y2020.

Mogo Finance Group, keeping car lending business as predominant, also utilizes consumer lending in selective markets as a strategic capital allocation vehicle to leverage its performance and customer base. Recognizing the niche underserved by conventional lenders, Mogo Finance provides financial inclusion and disruptively changes the used car and alternative financing industry across its countries. Up to date the Company has issued over EUR 585 million secured loans and running a net loan and used car rent portfolio of over EUR 192 million. Wide geographical presence and diversified revenue streams grant

Mogo with unique scale and pace. Mogo Finance operates a multi-channel fintech approach through its own branch network, more than 2,000 partner locations and a strong online presence. Established in 2012, with headquarters in Riga, Latvia, Mogo Finance operates in 14 countries in Baltics and Europe with a strong focus on GDP-dynamic countries in Central, Eastern and South-Eastern Europe. Operating regions also include the Near East, the Caucasus and Central Asia as well as Eastern Africa.