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."

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 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