Associated tags: The Elevation Group, Security (finance), EUR, News, Financial services, Bank, FX
Locations: EASTERN, MOLDOVA, ESTONIA, GERMANY, LUXEMBOURG, LUXEMBURG, USA, UGANDA, EUROPE, ROMANIA, KENYA, LATVIA, LITHUANIA
Retrieved on:
Monday, February 12, 2024
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FX The successful results were driven by the efficient integration of the ExpressCredit business and outstanding performance in the Group’s European consumer markets.
Key Points:
- The successful results were driven by the efficient integration of the ExpressCredit business and outstanding performance in the Group’s European consumer markets.
- Shortly after, Fitch Ratings assigned a rating of ‘B-‘ with a Recovery Rating of ‘RR4’ to the respective bonds.
- In January 2024, the Group received all the necessary approvals from Belarussian government authorities with respect to the Mogo Belarus sale.
- The sale is expected to be finished within 2024 once all aspects of the transaction, including asset refinance, will be implemented.
Retrieved on:
Tuesday, February 6, 2024
The issuer is solely responsible for the content of this announcement.
Key Points:
- The issuer is solely responsible for the content of this announcement.
- Eleving Group and its group companies (the "Group"), specializing in vehicle and consumer financing, cordially invite investors and analysts to an earnings call with the Management Board on 14 February 2024, 15:00 CET, following the publication of its unaudited 12M 2023 results on 12 February 2024.
- Group CEO Modestas Sudnius and CFO Maris Kreics will present and comment on the unaudited results by means of a presentation.
- The presentation for the earnings call will be available here as of 12 February 2024.
Retrieved on:
Saturday, December 30, 2023
Meanwhile, the Group’s net portfolio landed at EUR 327.3 mln, showing a significant increase of around 11% QOQ.
Key Points:
- Meanwhile, the Group’s net portfolio landed at EUR 327.3 mln, showing a significant increase of around 11% QOQ.
- Excluding the integrated ExpressCredit business, the Group still recorded a healthy portfolio growth of 2.8% QOQ.
- Traditional lease and leaseback products contributed EUR 51.0 mln to the 9M 2023 revenues— an unchanged result compared to the 9M 2022, mainly affected by Belarus portfolio run-down.
- The respective quarter is the first since the integration of the ExpressCredit business into the Group's portfolio and operations.
Retrieved on:
Tuesday, November 7, 2023
Eleving Group, a global multi-brand fintech company, announces the settlement of its EUR 50 mln 13% Senior Secured and Guaranteed 2023/2028 Eurobonds (ISIN DE000A3LL7M4).
Key Points:
- Eleving Group, a global multi-brand fintech company, announces the settlement of its EUR 50 mln 13% Senior Secured and Guaranteed 2023/2028 Eurobonds (ISIN DE000A3LL7M4).
- Listing of the new bonds on the Regulated Market of the Frankfurt Stock Exchange is expected today, October 31, 2023, and on the Regulated Market of the Nasdaq Riga Stock Exchange on or around November 6.
- Aalto Capital (Germany) acts as the Capital Markets Partner of the Group.
- The Home Member State of Eleving Group, pursuant to Article 2(1)(i) of Directive 2004/109/EC, is Luxembourg.
Retrieved on:
Tuesday, November 7, 2023
The issuer is solely responsible for the content of this announcement.
Key Points:
- The issuer is solely responsible for the content of this announcement.
- Eleving Group and its group companies (the "Group"), specializing in vehicle and consumer financing, cordially invite investors and analysts to an earnings call with the Management Board on 14 November 2023, 15:00 CET, following the publication of its unaudited 9M 2023 results on 13 November 2023.
- Group CEO Modestas Sudnius and CFO Maris Kreics will present and comment on the unaudited results by means of a presentation.
- The presentation for the earnings call will be available here as of 13 November 2023.
Retrieved on:
Thursday, October 26, 2023
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Central Europe 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).
Key Points:
- 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.
- 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%.
Retrieved on:
Thursday, October 26, 2023
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Swedbank As reported, Eleving Group has offered a bond exchange to existing Mogo AS 2021/2024 bondholders from 26 September to 13 October 2023.
Key Points:
- As reported, Eleving Group has offered a bond exchange to existing Mogo AS 2021/2024 bondholders from 26 September to 13 October 2023.
- Based on the exchange orders submitted, the company informs that slightly above 50% of the Mogo AS 2021/2024 bondholders will exchange their Latvian notes.
- Given that the new bonds are issued with an international ISIN, this has created technical obstacles in the exchange offer for a certain number of existing bondholders.
- The initial Mintos offering includes high-yield Fractional Bonds, with Eleving Group as the underlying bond issuer, offering an interest rate of 13%.
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Issuer The fixed annual coupon rate for the new Eleving Group Senior Secured and Guaranteed bonds (ISIN DE000A3LL7M4) is set at 13% p.a.
Key Points:
- The fixed annual coupon rate for the new Eleving Group Senior Secured and Guaranteed bonds (ISIN DE000A3LL7M4) is set at 13% p.a.
- The minimum investment is set at EUR 1,000.00, whereby the denomination of the new Eleving Group EUR bonds is EUR 100.
- Exchange offer period for bondholders of Mogo AS unsecured bonds (ISIN LV0000802452) from September 26 to October 13, 2023, 14:00 (EEST)*.
- All existing holders of Mogo AS unsecured bonds (ISIN LV0000802452) are offered the opportunity to exchange their existing bonds for new Eleving Group senior secured and guaranteed bonds with a higher coupon rate.
Retrieved on:
Thursday, September 28, 2023
The coupon rate for the new Eleving Group Senior Secured and Guaranteed EUR bonds with ISIN DE000A3LL7M4 is fixed at 13% with effect from September 28, 2023.
Key Points:
- The coupon rate for the new Eleving Group Senior Secured and Guaranteed EUR bonds with ISIN DE000A3LL7M4 is fixed at 13% with effect from September 28, 2023.
- The exchange offer period of Eleving Group's new EUR bonds is set to last from September 26 until October 13, 2023, at 14:00 EET.
- All existing holders of Mogo AS unsecured bonds (ISIN LV0000802452) are offered the opportunity to exchange their existing bonds for new Eleving Group senior secured and guaranteed bonds with a higher coupon rate.
- The new bonds maturing in 2028 have a coupon rate of 13% and interest payable quarterly.
Retrieved on:
Tuesday, September 26, 2023
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Central Europe Exchange offer period for bondholders of Mogo AS unsecured bonds with ISIN code LV0000802452 from September 26 to October 13, 2023, 14:00 EET.
Key Points:
- Exchange offer period for bondholders of Mogo AS unsecured bonds with ISIN code LV0000802452 from September 26 to October 13, 2023, 14:00 EET.
- Bondholders of Mogo AS unsecured bonds are encouraged to reach out to their depository banks, Signet Bank or Eleving Group for further information.
- The exchange offer period of Eleving Group's new bonds is set to last from September 26 until October 13, 2023.
- All existing holders of Mogo AS unsecured bonds (ISIN LV0000802452) are offered the opportunity to exchange their existing bonds for new Eleving Group senior secured and guaranteed bonds with a higher coupon rate.
