EQS-News: Eleving Group issues EUR 275 million senior secured bonds with a fixed interest rate of 9.5% per annum

Eleving Group, following the exchange of 2021/2026 bonds and the public offering of EUR 2025/2030 senior secured and guaranteed bonds (ISIN XS3167361651), issues EUR 275 million of new bonds. The funds raised through the bond issue will be mainly used by Eleving Group to refinance the EUR 150 million bonds issued in 2021, refinance part of Mintos liabilities as well as to support the development of the Group’s loan portfolio.

Due to strong demand from institutional investors, the interest rate on the new bonds (ISIN XS3167361651) has been set at 9.5% per annum.

“We are truly pleased with the strong interest and trust shown by both private and institutional investors in Eleving Group. The transaction gained global interest with demand consisting of institutional investors from Europe, the US, and the Middle East, as well as retail investors from the Baltics and Germany. Demand for the offering was exceptionally strong which confirms that investors trust our business model and appreciate our work in the capital markets over the past years. This issuance will not only allow us to refinance existing obligations but also to continue developing our net loan portfolio, enabling us to sustain profitable growth,” said Eleving Group CEO Modestas Sudnius.

The Group's management considers the respective issue a success. The strong participation from retail and institutional investors reflects ongoing investor confidence and the growing appeal of Eleving Group’s financial instruments.

During the issue, Eleving Group offered senior secured and guaranteed bonds with a nominal value of EUR 1,000, maturing on 24 October 2030, with interest payable semi-annually on 31 March and 30 September each year.

On Friday, 17 October 2025, due to the high demand for the new 2025/2030 Eleving Group bonds, Eleving Group management decided to increase the aggregate principal amount of the bonds to be issued. A supplement to the prospectus, as approved by the Luxembourg Commission for the Supervision of the Financial Sector (Commission de Surveillance du Secteur Financier – “CSSF”) on 29 September 2025, was submitted by Eleving Group to the CSSF to increase the amount of the bonds to be offered from up to EUR 250,000,000 to up to EUR 300,000,000, and to increase the total number of bonds to be offered from up to 250,000 to up to 300,000 and has been approved by the CSSF on 17 October 2025.

The financial conditions set forth in the conditional call option issued on 29 September 2025 by Eleving Group to the holders of the outstanding 2021/2026 bonds has been fulfilled. Eleving Group will therefore proceed with the full redemption of any outstanding 2021/2026 bonds not exchanged during the Exchange Offer. A final redemption notice will be published in due course. The redemption is expected to occur on or around 29 October 2025, at a price equal to 100% of the principal amount plus accrued interest up to, but excluding, the final redemption date.

The new EUR 2025/2030 bonds are expected to be admitted to trading on the Regulated Market of the Frankfurt Stock Exchange (General Standard) and the Baltic Regulated Market of Nasdaq Riga on or around 27 October 2025.

Eleving Group mandated DNB Carnegie as Sole Global Coordinator and Joint Bookrunner. Gottex Brokers SA, BCP Securities Inc., and Signet Bank AS served as Joint Lead Managers and Joint Bookrunners, while Banque Internationale à Luxembourg SA (BIL) was appointed Sales Agent. Bankhaus Scheich Wertpapierspezialist AG acted as Sales and Listing Agent. Aalto Capital (Munich) supported Eleving Group in its capacity as Financial Adviser.

The Home Member State of Eleving Group, pursuant to Article 2(1)(i) of Directive 2004/109/EC, is Luxembourg.

About Eleving Group  

Eleving Group is a publicly listed international financial technology company founded in 2012. Today, the group operates in 16 countries across three continents, providing vehicle and consumer financing services. Since its founding, Eleving Group has served more than 1.4 million registered users. The Group employs over 3,200 people across its operations. The company’s headquarters are located in Riga, Latvia.

Since October 16, 2024, Eleving Group shares have been listed on both the Nasdaq Baltic Official List and the Frankfurt Stock Exchange Prime Standard.

Additional information:
Elina Dobulane
Group’s Chief Corporate Affairs Officer, Eleving Group
elina.dobulane@eleving.com | +371 25959447