Sorainen has advised the Latvia-headquartered Eleving Group on Belarusian law aspects of its EUR 150 million bond issuance and private placement with professional investors.
According to Sorainen, the bonds have an annual interest rate of 9.50%, are due in 2026, and were listed on the Frankfurt Stock Exchange.
The Eleving Group, formerly known as Mogo Finance, is a financial solutions provider in Central Europe, CIS, and East Africa. Founded in 2012, Eleving operates in 14 countries and serves more than 250,000 clients, with a team of 1,600 people. Its Belarusian subsidiary Mogo Credit started operations in 2018.
The Sorainen team consisted of Partner Kiryl Apanasevich, Counsel Ann Laevskaya, Associate Artem Melnikovich, and Legal Assistant Yana Kunkevich.
Sorainen did not respond to our inquiry on the matter.
Editor's Note: After this article was published, TGS Baltic announced that it had advised the Eleving Group on the Estonian legal aspects of the issuance. The firm's team included Partner Kirsti Pent and Senior Associate Olger Kaelep.