Eleving Group S.A.: Eleving Group issues EUR 50 mln senior secured and guaranteed bonds

Eleving Group, a Latvian head-quartered leading provider of financial and mobility solutions in Central Europe, CIS, Eastern, and Sub-Saharan Africa, rated B- (stable) by Fitch Ratings, following the exchange of Mogo AS 2021/2024 bonds, and the public offering of Eleving Group 2023/2028 bonds, issues EUR 50 mln senior secured and guaranteed bonds (ISIN DE000A3LL7M4). The investments attracted will be mainly used to refinance Mogo AS 2021/2024 bonds maturing next year on March 31 and to repay other Group’s liabilities.
The Group's management considers the respective issue a success, having achieved an impressive result in absolute figures from a public offer mainly rolled out in the Baltic States. Continuing the trend observed during Mogo AS 2021/2024 public bond issuance, retail investors have had an exceptional interest. Approximately 2,000 retail and institutional investors from the Baltic States and Germany have exchanged or subscribed to Eleving Group’s new bonds.
During the issue, Eleving Group offered senior secured and guaranteed bonds with a nominal value of EUR 100, maturity in 2028, and a coupon rate of 13%.
“The result achieved this time around can be considered as a success. Volume-wise, this already is one of the largest corporate public bond offerings carried out in the Baltics in recent years. Additionally, we see this issue as a great success for further diversification of our funding structure, given that we have onboarded over 1,500 new investors from numerous geographies without dependence on one or a few institutional investors. Also, the new bonds will improve our debt maturity profile, given that they have a maturity date four years later than Mogo AS 2021/2024 bonds. We have reached the point where the next big maturity is three years away, which gives us considerable time to prepare for it,” says Modestas Sudnius, the CEO of Eleving Group.
The new bonds are expected to be listed on the Regulated Market of Frankfurt Stock Exchange on or around October 31, while on the Regulated Market of Nasdaq Riga Stock Exchange, the listing date is set on or around November 6.
Eleving Group mandated Signet Bank AS (Latvia), Redgate Capital AS (Estonia), Evernord UAB FMĮ (Lithuania), and Bankhaus Scheich Wertpapierspezialist AG (Germany) to arrange a series of European professional investor meetings in connection with the new bond offering. Aalto Capital (Germany) acted as the Global Coordinator and the Financial Advisor to the Group.
The Home Member State of Eleving Group, pursuant to Article 2(1)(i) of Directive 2004/109/EC, is Luxembourg.
For media inquiries 
Arturs Cakars, Eleving Group Chief Corporate Affairs Officer, arturs.cakars@eleving.com, +371 25940357