Curated News
By: NewsRamp Editorial Staff
October 06, 2026
Eleving Group Launches Bond Exchange Offer for 2023/2028 Notes
TLDR
- Eleving Group offers 9% senior secured bonds due 2032, letting investors lock in higher yields before the October 20 exchange deadline.
- Eleving Group will exchange up to EUR 25 million of 2023/2028 bonds for new 2026/2032 bonds with a 1:1 ratio and quarterly 9% coupons.
- Eleving Group's bond exchange supports financial inclusion, funding vehicle and consumer financing for over 2.2 million users across 18 countries.
- Eleving Group will host an investor call on October 14, 2026, with CEO Modestas Sudnius and CFO Māris Kreics to discuss the bond exchange offer.
Impact - Why it Matters
This bond exchange offer is significant for Eleving Group as it allows the company to refinance its existing debt, potentially extending maturities and securing a fixed 9% coupon for six years. For bondholders, it provides an opportunity to exchange into new senior secured bonds with a higher yield and longer maturity, or to have their existing bonds redeemed early at 101%. The successful completion of the offer could strengthen Eleving Group's financial position, supporting its continued growth in vehicle, smartphone, and consumer financing across 18 countries. Investors and analysts should note the limited exchange amount of EUR 25 million, which may lead to prorated allocations, and the conditional early redemption for non-exchanged bonds. The new bonds' listing on major exchanges enhances liquidity and visibility. This move reflects Eleving Group's proactive capital management and could impact its credit profile and funding costs, making it relevant for current and potential investors.
Summary
Eleving Group, a publicly listed international financial technology company founded in 2012 and headquartered in Riga, Latvia, has announced a public exchange offer for holders of its existing 2023/2028 bonds (ISIN DE000A3LL7M4). Bondholders are invited to exchange their existing bonds for newly issued senior secured 2026/2032 bonds (ISIN XS3517354141) with a six-year maturity. The new bonds, totaling EUR 200 million, carry a fixed interest rate of 9% per annum, with up to EUR 25 million reserved for the exchange offer. The offer period runs from 6 October 2026 to 20 October 2026, with settlement expected on or around 26 October. The exchange ratio is 1:1, meaning EUR 100 nominal of existing bonds will be exchanged for EUR 100 nominal of new bonds, subject to final allocation. Accrued and unpaid interest will be paid in cash. Simultaneously, Eleving Group has issued a conditional notice of early voluntary redemption for any existing 2023/2028 bonds not exchanged, expected to be redeemed at 101% on or around 2 November 2026.
The new 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 20 October 2026. The securities prospectus has been approved by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg and is available on www.eleving.com. Eleving Group will host an investor call on 14 October 2026, featuring CEO Modestas Sudnius and CFO Māris Kreics, who will discuss the exchange offer and recent business results. Registration for the call is available here. The company operates in 18 countries, serves over 2.2 million registered users, and employs more than 4,600 people. Its shares have been listed on Nasdaq Baltic Official List and Frankfurt Stock Exchange Prime Standard since 16 October 2024.
Source Statement
This curated news summary relied on content distributed by NewMediaWire. Read the original source here, Eleving Group Launches Bond Exchange Offer for 2023/2028 Notes
