Eleving Group is notifying holders of subordinated unsecured bonds 2021/2031 (ISIN XS2427362491) of its intention to redeem the outstanding bonds on November 29, 2024.

According to Eleving Group’s estimates, the redemption of the subordinated unsecured bonds 2021/2031 (ISIN XS2427362491) will have an immediate positive effect on its consolidated balance sheet, resulting in close to EUR 2 mln in annual cost savings and in further improvements on the Group’s profitability.

Eleving Group shall redeem the bond in cash at a price per bond equal to 101% of the current outstanding amount, together with accrued but unpaid interest, in accordance with Condition 5.2 of the Terms and Conditions (Early voluntary redemption by the Issuer (Call Option)) on the respective bond prospectus. The redemption amount will be paid to the holders holding the bonds on the Record Date, i.e., one (1) Business Day prior to the Redemption Date (29 November 2024).

“We are delivering on our promises and are putting IPO net proceeds to productive use right away. This exercise marks another successful bond repayment, where our bond investors have been able to enjoy excellent investment returns,” explains Modestas Sudnius, the CEO of Eleving Group.

As communicated before and during the IPO, Eleving Group intends to further improve the profitability of the business and optimize its balance sheet.

Call Option Notice is available here: https://www.eleving.com/sub-bonds-call-option-notice

More information:

Edgars Rauza, Investor Relations Manager, edgars.rauza@eleving.com