DGAP-News: Mogo Finance S.A.
/ Key word(s): Bond
Mogo Finance EUR 2022 bondholders approve amendments to terms and conditions
Bondholders' meeting secures greater financial flexibility in COVID crisis
Proxies were given to a single proxyholder in accordance with Luxembourg laws on bondholders' meetings. The tabulation agent confirmed that proxies were received from over 450 investors holding EUR bonds in a total nominal value of approximately EUR 75.5 million. With the resulting participation of 75.5% of outstanding bonds, the quorum threshold of 50% was duly satisfied. Of the participants, at least 96% voted in favor of each of the resolutions, thereby also duly satisfying the majority thresholds.
The terms and conditions of the EUR 2022 bonds are expected to be formally amended in the coming days. Subsequently, the updated terms and conditions will be published on the website of Mogo and the amendment fees will be paid to the relevant investors.
Modestas Sudnius, CEO of Mogo Finance, commented: "The bondholders' consent to the amendment of the terms and conditions is a great vote of confidence in Mogo Finance. We greatly appreciate the support of our investors as we navigate the COVID crisis."
CFO Maris Kreics added: "The approvals in relation to the interest coverage ratio, the equity ratio and the permitted debt clause will strengthen the growth and profitability prospects of the Group. With the resulting greater financial flexibility in the economic environment of the COVID crisis, we can continue to focus on optimizing business performance."
Aalto Capital acted as financial advisor to Mogo Finance.
The full documentation is available on the Group's website at https://mogo.finance/bonds/.
The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or any other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Persons into whose possession this announcement may come are required to inform themselves of and observe all such restrictions.
This announcement does not constitute an offer of securities for sale in the United States. The bonds have not been and will not be registered under the Securities Act or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.
This announcement does not constitute a prospectus for the purposes of Directive 2003/71/EC, as amended (the "Prospectus Directive") and does not constitute a public offer of securities in any member state of the European Economic Area (the "EEA").
This announcement does not constitute an offer of bonds to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the bonds. Accordingly, this announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this announcement as a financial promotion may only be distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "Relevant Persons"). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.
PROFESSIONAL INVESTORS ONLY - Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as the bonds do not constitute packaged products and will be offered to eligible counterparties and professional clients only.
27.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Mogo Finance S.A.|
|8-10 avenue de la Gare|
|Listed:||Regulated Market in Frankfurt (General Standard)|
|EQS News ID:||1163773|
|End of News||DGAP News Service|