BlueOrange participates in the organisation of EUR 50 million bond issuance on a pan-European scale

Mogo Finance, a non-bank car loan provider, and its group companies that specialise in financing of used cars issued EUR 50 million bonds.

Bond placement was organised by the British company, KNG Securities, together with its business partners – Bankhaus Scheich Wertpapierspezialist AG (Germany) and RP Martin Stockholm AB (Sweden). AS BlueOrange Bank and AS Frigate acted as regional bond sales agents, whereas Aalto Capital (Germany) acted as the coordinator and advisor to the group.

Edmunds Antufjevs, Head of Investment Origination at BlueOrange Bank, comments: “We are pleased that the bank has managed to participate in the organisation of bond issuance on a pan-European scale. Besides extending our partner and investor base, we have also increased our professional experience, which will allow us to offer broader investment attraction alternatives to Baltic companies.”

The bonds are issued with a four-year term and the interest rate 9.5% per annum. The settlement will take place on 11 July 2018, when the bonds are expected to be included in the Open Market of the Frankfurt Stock Exchange. An application to list the bonds for trading on the Regulated Market will be done within approximately 4 months thereafter.

BlueOrange has been cooperating with Mogo Finance Group companies since 2013. Through the new bond issuance, the Mogo Finance Group, in addition to the existing Baltic investor base, has gained recognition among investors in the UK, Germany, Sweden, and other countries.