AS “mogo” Bonds to be Listed on Nasdaq Baltic Market


Tallinn/Riga/Vilnius, Baltic Market, November 10, 2014 – Nasdaq (NASDAQ: NDAQ) announces that as of November 11, 2014, the bonds (Ticker: MOGO100021A) issued by the provider of vehicle finance lease and leaseback services AS “mogo” will be listed on the Nasdaq Baltic Bond list by Nasdaq Riga.

The nominal value of the bonds is EUR 1,000; yearly coupon rate is 10%; the maturity of the bonds is 7 years with gradual repayment of the principal during the final two years. The company issued 19,062 bonds in total. According to the issue prospectus, AS “mogo” may issue additionally 938 bonds (total nominal value 938,000 EUR) by 31 December 2015.

„We are happy about AS “mogo” decision to attract financing for their future development in the capital market by issuing bonds,” said Daiga Auziņa-Melalksne, Head of Exchange Services at Nasdaq Baltic Market. „We are also excited to see development of the Baltic fixed income market as these corporate bonds will provide broader investment opportunities for retail and institutional investors in the Baltic region.”

“By listing bonds on the Nasdaq Baltic Bond List, we see an opportunity to gain a wider recognition among new investors and to ensure transparent operations for existing and potential investors,” explained Jekabs Endzins, Chairman of the Board, AS “mogo”.

According to J. Endzins, although the company was only founded in 2012, AS “mogo” has already established itself as a market leader in finance lease and leaseback services in Latvia. With its clear-cut offering, quick procedure for evaluating lease applications, extensive cooperation with vehicle dealerships, and a targeted advertising campaign, the company has been able to offer clients loans with attractive conditions. As a result, the number and total volume of the concluded lease agreements have increased dramatically within the past year.

About AS “mogo”

AS “mogo” offers classical finance lease and lends against vehicles already owned by clients (a type of service known as leaseback), which is available by filling out an application on the company website, mobile website, over the phone, enquiring with one of more than 200 affiliated car dealerships, or at one of its client service centers in major cities throughout Latvia. Based on audited financial statements for the first half of 2014, the turnover of JSC “mogo” reached EUR 2.2 million, with a corresponding profit of 176 thousand euros. Today, “mogo” group companies also operate in Estonia, Lithuania, and Georgia, with plans to expand business to other countries. Read more: www.mogofinance.com.

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