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Eversheds, Norton Rose Fulbright, DLA Piper, Arendt & Medernach and Tark Grunte Sutkiene advise on mezzanine financing of Mogo Finance S.A.

Eversheds, Norton Rose Fulbright, DLA Piper, Arendt & Medernach and Tark Grunte Sutkiene advise on mezzanine financing of Mogo Finance S.A.

  • Latvia

    10-07-2015

    Eversheds Bitāns team advised Mogo Finance S.A. as the borrower and its operating subsidiaries in an mezzanine financing project to support the growth of mogo, a non-banking car financing provider operating in Lithuania, Latvia, Estonia and Gearogia.

    Mogo is currently the market leader in the Baltics, and it employs more than 200 people working in 28 branches in 26 cities in Lithuania, Latvia, Estonia, and Georgia, operates with more than 500 car dealerships, and has a loan portfolio comprising 20,000 cars. Furthermore, Mogo Finance is one of the fastest-growing non-bank car financing companies in the Baltics and Georgia that offers its clients standard financial leasing as well as loans secured with a vehicle owned by the client.

    The deal was funded through Accession Mezzanine Capital III. The fund is backed by institutional investors including the European Bank for Reconstruction and Development and the European Investment Fund and the funds in the deal are earmarked for developing mogo’s operations in other countries within Central and Eastern Europe.

    Eversheds Bitāns provided legal assistance to Mogo throughout the process, drafted all necessary transaction and security documentation, and advised on regulatory and corporate law matters.

    Disclaimer

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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