Latvia’s Mogo Finance opens books for planned add-on to 9˝% notes

By Rebecca Melvin

New York, Nov. 6 – Mogo Finance SA and its group companies has opened books for a proposed add-on to its 9˝% notes due 2022, according to an announcement on Tuesday. The existing issue size is €50 million.

Proceeds of the bond issue will be used to refinance existing loans from peer to peer marketplace, so-called Mintos debt.

KNG Securities LLP, ABG Sundal Collier AB, Bankhaus Scheich Wertpapierspezialist AG, BlueOrange Bank AS, Gottex Brokers SA and STX Fixed Income BV have been mandated for the Regulation S transaction and arranged roadshow meetings.

Settlement of the deal is expected in mid-November.

Riga, Latvia-based Mogo Finance is a provider of used-car finance, operating in such countries as Lithuania, Latvia, Estonia and Georgia.

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