Eleving Group successfully completed its 2025/2030 bond offering, which drew strong investor interest and became significantly oversubscribed, resulting in a scaled allocation. To accommodate the exceptionally strong investors’ interest, Eleving Group increased the total amount of the public offering from up to EUR 250 million to up to EUR 300 million, and recorded EUR 275 million on its balance sheet.
For retail investors, subscription amounts up to and including EUR 2,000 were fully allocated, while for subscription amounts exceeding EUR 2,000, the first EUR 2,000 were fully allocated, with a total average allocation of 20% per order.
TEGOS involvement
Our role in consulting Eleving Group in this project was to structure and establish the bond security package and to issue a legal opinion on matters governed by Latvian law. Team advising the client in this matter was led by partners Ieva Judinska–Bandeniece and Inese Hazenfusa. Senior associate Laura Ērkšķe also participated in the project.
About Eleving Group’s business
The Group’s business comprises several products and services that fill the funding gap and create new opportunities for people who previously did not have access to finance or private transportation. The Group’s primary products can be split into four categories: vehicle loan products, flexible loans, subscription-based products and consumer products.
More information on the bond issue HERE.
