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 company is inviting bondholders to exchange their existing bonds for newly issued senior secured 2026/2032 bonds (ISIN XS3517354141) with a six-year maturity. The new bonds, amounting to EUR 200 million, carry a fixed interest rate of 9% per annum, with up to EUR 25 million available specifically for the exchange offer. Concurrently, Eleving Group has published a conditional notice of early voluntary redemption for any 2023/2028 bonds not exchanged, with redemption expected on or around November 2, 2026, subject to conditions.
The exchange offer period runs from October 6 to October 20, 2026, at 14:00 EEST / 13:00 CEST. Holders of the existing bonds will have the opportunity to exchange their bonds for the new ones on a 1:1 basis, meaning EUR 100 nominal of existing bonds for EUR 100 nominal of new bonds, subject to final allocation. Accrued and unpaid interest up to the settlement date, expected on or around October 26, 2026, will be paid in cash. Non-exchanged bonds are expected to be redeemed at 101% on or around November 2, 2026, as detailed in the conditional early voluntary redemption notice. The new bonds will carry a fixed coupon of 9% per annum, payable quarterly, and 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 October 20, 2026.
The securities prospectus approved by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg is available on the company’s website at www.eleving.com. Investors can also access key documents, including the Eleving Group Bond Issue and Exchange Offer Prospectus, the Eleving Group Bond Terms and Conditions, and the Eleving Group Exchange Offer Invitation. Additional documents such as the Eleving Group Addendum Exchange Offer Invitation and the Eleving Group Early Redemption Notice are also available. Summaries of the prospectus are provided in multiple languages, including Latvian, Lithuanian, Estonian, and German.
Eleving Group will host an investor call on October 14, 2026, at 14:00 CEST, featuring CEO Modestas Sudnius and CFO Māris Kreics, who will discuss the exchange offer and provide insights into recent business results. Registration for the call is available here. The original release can be viewed on www.newmediawire.com.
This exchange offer and conditional redemption are significant for bondholders, who must decide whether to exchange their bonds for new ones with a 9% coupon and extended maturity, or have their bonds redeemed early at 101%. The outcome will affect Eleving Group’s debt structure and could influence its financial flexibility. For the broader fintech and bond markets, the move demonstrates proactive liability management amid changing interest rate environments. Eleving Group, founded in 2012, operates in 18 countries across three continents, providing vehicle, smartphone, and consumer financing services, and has served over 2.2 million registered users. The company employs over 4,600 people and is headquartered in Riga, Latvia. Its shares have been listed on the Nasdaq Baltic Official List and the Frankfurt Stock Exchange Prime Standard since October 16, 2024.
