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Mogo Finance EUR 50 million 4y senior secured bond

  • 3rd October 2018

 

 

KNG Securities LLP (UK) acted as lead manager, arranger and book runner on a EUR 50 million 4-year senior secured bonds for Mogo Finance

Mogo Finance is one of largest and fastest growing secured used car financing companies in Europe. Recognizing the niche in used car financing underserved by traditional lenders, Mogo has expanded its operations to 15 countries issuing over €250 million to date and running a net loan portfolio over €130m. While Baltics and Georgia remain the main markets, company has made good progress in other locations like Poland, Romania, Bulgaria, Moldova, Armenia Albania and Belarus

The four-year senior secured corporate bond was issued at par with a 9.5% coupon. CEO and CFO of Mogo Finance embarked on an extensive roadshow in Europe to engage with institutional investors to garner interest for this transaction. The deal was well oversubscribed with a good mix of asset managers, family offices and private clients and has traded well on the secondary

“It has been a pleasure working together with KNG on this transaction. The KNG team understood our business thoroughly, set the strategic guidelines for the transaction and played a major role in structuring, documenting, distributing and syndicating the transaction. We believe that this is a land mark transaction from the region and we hope this will open door for Mogo Group to further tap the capital markets of the Europe”, said Maris Kreics, CFO of Mogo Finance.