Eleving fixes coupon for new offering, exchange bonds at 13%

Chicago, Sept. 29 – Eleving Group SA set the coupon for its new bonds due 2028 at 13%, according to an announcement.

Eleving is conducting a public offering of the senior secured guaranteed bonds (//B) (ISIN: DE000A3LL7M4), as previously reported, from Oct. 2 through Oct. 20 in Estonia, Latvia, Lithuania and Germany.

The company is also conducting an exchange offer for noteholders of Mogo AS bonds (ISIN: LV0000802452) whereby the bondholders can exchange into the new bonds. The exchange offer runs from Sept. 26 to 10 a.m. ET on Oct. 13.

The company was looking at a coupon of between 12% and 13½%.

Eleving Group has mandated Signet Bank AS (Latvia), Redgate Capital AS (Estonia), Evernord UAB FMI; (Lithuania), and Bankhaus Scheich Wertpapierspezialist AG (Germany) to arrange a series of European professional investor meetings.

Aalto Capital (Germany) acts as the global coordinator as well as the financial adviser to the group.

The Riga, Latvia-based issuer provides financial and mobility solutions in Central Europe, CIS, Eastern and Sub-Saharan Africa.

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