Chicago, Oct. 23 – Eleving Group SA will issue €50 million of 13% senior secured and guaranteed bonds due 2028 (//B), according to an announcement.
The issue is the result of a retail offer of the bonds and an exchange offer, estimated with approximately €15 million of participation in the exchange offer based on the company’s previous announcements.
The company had capped the issue size at €75 million.
Eleving Group used Signet Bank AS (Latvia), Redgate Capital AS (Estonia), Evernord UAB FMI; (Lithuania), and Bankhaus Scheich Wertpapierspezialist AG (Germany) as arrangers.
Aalto Capital (Germany) was the global coordinator as well as the financial adviser to the group.
Proceeds will be mainly used to repay Mogo AS bonds maturing on March 31, 2024 and other liabilities.
Listing on Oct. 31 is expected in Frankfurt. The bonds will be listed on Nasdaq Riga on Nov. 6.
The Riga, Latvia-based issuer provides financial and mobility solutions in Central Europe, CIS, Eastern and Sub-Saharan Africa.
| Issuer: | Eleving Group SA
|
| Amount: | €50 million
|
| Issue: | Senior secured and guaranteed bonds
|
| Maturity: | 2028
|
| Arrangers: | Aalto Capital (global coordinator), Signet Bank AS, Redgate Capital AS, Evernord UAB FMI and Bankhaus Scheich Wertpapierspezialist AG
|
| Coupon: | 13%
|
| Price: | Par of €100
|
| Yield: | 13%
|
| Announcement date: | Oct. 23
|
| Listing date: | Oct. 31
|
| Rating: | Fitch: B
|
| Distribution: | Retail
|
| Price talk: | 12% to 13˝%
|
| Marketing: | Investor meetings
|
| ISIN: | DE000A3LL7M4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
