On 28 June 2022, Longo Group AS has submitted documents to Nasdaq CSD, in order to register new senior secured notes issue with the following characteristics:
| ISIN | LV0000860096 |
| Type of security | Senior Secured Notes |
| Issue size | EUR 5,000,000 |
| Nominal value of 1 note | EUR 1,000 |
| Annual coupon rate | 3M EURIBOR + 6 % |
| Coupon payment frequency | Monthly |
| Maturity | 30 June 2025 |
| Principal repayment | At maturity |
| Minimum subscription amount | EUR 100,000 |
Notes issue will be structured as a private placement with EUR 100,000 minimum investment.
Notes issue is arranged by Signet Bank AS.
About Longo Group AS
Longo Group was established in 2018 and is the leading used car retailer in the Baltics. The Group is the fastest-growing used car retailer in the Baltics - its monthly sales of used cars more than twice exceed the amounts sold by competitors, delivering more than 10 000 vehicles to customers since starting operations.
The company provides a transparent and reliable used car procurement, sales and funding intermediation services. Company branches dealing with car sales are open in Latvia, Lithuania and Estonia. Company branches in Netherlands, Belgium and Germany specialize in vehicle procurement, for further sale in the Baltics. The Group has its own preparation center in Lithuania with facilities based in the Panevežys region. To ensure the highest quality standards, before cars are sold, they are thoroughly checked, conditioned and if needed repaired by Longo’s professional team.
In May 2019 Longo opened its Riga trading lot – the largest in the Baltics with 450 car capacity. In early 2022 a totally new concept in the market was introduced by Longo- it opened a showroom in RYO shopping mall in Panevėžys, Lithuania where customers have opportunity to interact with sales representatives and order cars to be delivered for test drives. Today total range of vehicles on offer in the Baltics is approximately 1 000 cars. All cars on sale are provided with 2 month or 3 000 km warranty.