Eleving Group to Redeem Outstanding Bonds, Aims for Increased Profitability

Eleving Group, a fintech company based in the Baltics, has announced its plan to redeem subordinated unsecured bonds (2021/2031) on November 29, 2024. The company operates in the vehicle and consumer financing sectors across 16 countries. The redemption is part of a strategy to enhance the company’s financial position.

The planned bond redemption is expected to yield approximately EUR 2 million in annual cost savings, boosting Eleving Group's profitability. The company will redeem the bonds in cash at 101% of their current value, including any accrued unpaid interest, as per the bond’s terms and conditions.

Modestas Sudnius, CEO of Eleving Group, states that this redemption aligns with their IPO promises and optimizes the balance sheet. Eleving Group's focus remains on improving business profitability and delivering strong returns to investors.