Šīs tīmekļa vietnes satura kvalitātes uzlabošanai un pielāgošanai lietotāju vajadzībām tiek lietotas sīkdatnes - tai skaitā arī trešo pušu sīkdatnes. Turpinot lietot šo vietni Jūs piekrītat sīkdatņu lietošanai.
Eleving Group to conduct fixed-income meetings – bond offering may follow. Launch of Conditional Call of the outstanding EUR 100 million 9.5% 2022 Bonds
Emitents mogo AS (213800DOKX626GYVOI32)
Veids 2.2. Iekšējā informācija
Valoda EN
Statuss Publicēts
Datums 2021-09-29 12:15:31
Versijas komentārs

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.


About Eleving Group

Eleving Group comprises a number of international and fast-growing financial technology companies with a global presence. The Group operates in the vehicle and consumer finance segments in 3 continents, providing financial inclusion and disruptively changing financial services industries in its countries of operation. To date, the Group has issued over €710 million in loans and runs a net loan portfolio of over €200 million. Founded in 2012 as Mogo in Latvia, the Group has revolutionized the way people purchase cars. Having expanded all across the Baltics within its first year in business, the Group continued expansion in the following years, servicing a total of 14 active markets as of the end of 2020.

With its headquarters in Latvia, the Group operates in the Baltics, Central, Eastern, and South-Eastern Europe, Caucasus, Central Asia, and Eastern Africa.

For two consecutive years since 2020, the Group has appeared on the Financial Times list of Europe’s 1000 fastest growing companies.

More: www.eleving.com