Eleving Group, a publicly listed international financial technology company, announced on October 6, 2026, the launch of a public exchange offer for holders of its existing 2023/2028 bonds (ISIN DE000A3LL7M4). The offer invites bondholders 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 interest payable quarterly. Up to EUR 25 million of these new bonds are available through the exchange offer. The full prospectus and related documents are available on the company's website at www.eleving.com.
Simultaneously, Eleving Group has published a conditional notice of early voluntary redemption for any existing 2023/2028 bonds not exchanged. Subject to the conditions in the notice, these bonds are expected to be redeemed on or around November 2, 2026, at 101% of their nominal value. The exchange offer period runs from October 6 to October 20, 2026, at 14:00 EEST / 13:00 CEST. Holders should note that custodian banks may set earlier internal deadlines. 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 on the existing bonds up to the settlement date, expected around October 26, 2026, will be paid in cash. The new bonds are expected to be admitted to trading on the Regulated Market of the Frankfurt Stock Exchange and the Baltic Regulated Market of Nasdaq Riga on or around October 20, 2026.
This move is significant for bondholders and the broader financial market. The exchange offer provides investors with an opportunity to extend their investment horizon and secure a 9% coupon at a time of uncertain interest rates. The early redemption option for non-exchanged bonds ensures that all holders receive a premium of 101%, potentially offering a favorable exit. For Eleving Group, the issuance of EUR 200 million in new bonds strengthens its capital structure and supports its continued growth in vehicle, smartphone, and consumer financing across 18 countries. The company has served over 2.2 million registered users and employs more than 4,600 people. The new bonds' listing on major exchanges enhances liquidity and visibility. Detailed terms and conditions are available in the Eleving Group Bond Terms and Conditions, and the Eleving Group Exchange Offer Invitation outlines the procedures. An addendum to the invitation is also available at Eleving Group Addendum Exchange Offer Invitation.
Investors and analysts are invited to an investor call on October 14, 2026, at 14:00 CEST, featuring CEO Modestas Sudnius and CFO Māris Kreics. Registration for the call is available here. The exchange offer represents a strategic refinancing for Eleving Group, potentially reducing near-term maturity pressure and aligning with its long-term growth objectives. Bondholders are advised to consult their custodian banks for detailed instructions, as existing bonds will be blocked from trading upon submission of exchange instructions. Non-exchanged bonds remain freely tradable until redemption. This development underscores Eleving Group's proactive approach to capital management and could set a precedent for similar fintech firms in the region. For full details, see the original release on www.newmediawire.com.
