On November 14, AS Longo Group organised a webinar, during which Chairman of the Management Board Edgars Cērps and CFO Dārta Keršule informed on the public bond offering, company development and answered questions.
To watch the webinar recording, please visit: https://www.youtube.com/watch?v=dL6k_9WMz1Q&list=PLeOLX3TaNx_9beN29GiSABM4b-SRJEhJ2
The presentation demonstrated during the webinar is attached.
Main terms of the offering
During the public bond offering in Latvia, Estonia, and Lithuania AS Longo Group will offer investors to purchase up to 100 000 bonds with a nominal amount of EUR 100 per bond, annual fixed interest rate of 10% and a maturity of three years. The subscription is open to both retail and professional investors, and includes an exchange offer to investors of the two existing bond issues maturing in the end of November 2024 and in June 2025. The bonds will be secured by pledges on assets of AS Longo Group subsidiaries in Latvia and Lithuania which cover the Group’s bonds with a comfortable reserve.
Timetable of the offering
- Start of the offering period 11 November 2024 at 10.00 EET.
- End of the offering period 25 November 2024 till 14.30 EET.
- Announcement of the results 26 November 2024.
- Settlement 29 November 2024.
After the issue date, AS Longo Group will apply to Nasdaq Riga for admitting the bonds to listing and trading on the Regulated market – the Baltic Bond list.
About AS Longo Group
AS Longo Group is the largest used car retailer in the Baltic region, providing the most extensive selection of vehicles. Established in 2018, Longo employs over 140 professionals and reached a remarkable revenue of 47.8 million euros in 2023. The headquarters are in Latvia, from which AS Longo Group manages 9 subsidiaries across Lithuania, Estonia, Poland, the Netherlands, Belgium, and Germany. Since the inception, Longo mission has been to establish a new standard of quality within the used car retail sector in the Baltic region, ensuring a transparent, reliable, and outstanding car-buying experience for customers, both online and in-person.
AS Longo Group growth has been recognized by the Financial Times and included in the FT 1000 list of Europe’s fastest-growing companies for 2024, ranking 1st among Latvian companies and 10th in the European automotive sector. Find out more: https://longo.group/
Disclaimer: This announcement is an unpaid marketing communication in accordance with the Prospectus Regulation and does not constitute investment advice or an offer. The information provided herein contains statements on the Public Offering of bonds of AS Longo Group. Every investment decision must be based on a prospectus approved by the Bank of Latvia. An approved prospectus is available on Bank of Latvia website (https://bank.lv).