Exactly, this is not an ordinary bank. Understanding the customer’s needs and experiences is one of our core operating principles. We do not apply a standard approach for achieving customer goals, each solution is found by thoroughly analysing each situation individually and following the global trends in the industry.
Signet Bank AS
Antonijas street 3,
Riga, LV 1010, Latvia
Phone: +371 67 080 000
Fax: +371 67 080 001
E-mail: [email protected]
Monday to Friday
9:00 a.m. – 17:30 p.m
On March 1, 2021, AS “mogo” issued bonds in the amount of EUR 30 million with Signet Bank acting as the arranger of the issue, thus, successfully completing the largest bond issue in recent years by a private company on Nasdaq Riga Stock Exchange.
With an annual coupon rate of 11%, 3-year maturity and minimum subscription amount of EUR 1’000, the bonds were offered to existing Mogo bondholders and other retail and institutional investors from the Baltic region. The public offering consisted of two parts – subscription by new investors and exchange offer to existing bondholders.
Bond issue was comfortably oversubscribed with more than 840 investors participating in the offering.
Nominal amount (% of issue size)
Number of investors
We received remarkable interest and demand from investors from all three Baltic countries, reaffirming investors’ belief in the sustainability of Mogo business model. We highly appreciate the trust of our loyal existing investors who participated in the exchange offer and welcome on board 662 new investors who have joined our investors` community. We feel great responsibility towards our wide international investor community and will continue our work on implementing our business strategy and maintaining high standards for operational transparency.”
Maris Kreics, CFO of Mogo Finance Group
More than 70% of existing investors decided to continue their investments in Mogo, serving as an excellent proof of investors’ satisfaction with the company’s performance and investment experience. The success of Mogo bond offering highlights the strengthening Baltic retail investor base and potential of Baltic public bond offerings in the region.”
Edmunds Antufjevs, Head of Corporate Finance at Signet Bank
It is great to see Mogo successfully achieving its fundraising target using capital markets services provided by Nasdaq Baltic. Mogo offering was the largest public offering by a private company during the last four years in Latvia.”
Daiga Auziņa-Melalksne, the Head of Nasdaq Baltic Exchanges
AS “mogo” is an experienced capital market participant and has been represented on the Baltic Regulated market since 2014. New bonds are planned to be included in the Regulated market – the Baltic Bond List of “Nasdaq Riga” stock exchange by March 31 at latest. Signet Bank acted as the lead manager for the bonds` issuance.
The bank was founded in 1992 as Latvijas Biznesa banka. Since 2013, it has focused its strategy on servicing entrepreneurs and their businesses, with an emphasis on high-quality capital maintenance and structured investment projects. Signet Bank’s majority shareholders are a group of Latvian and international investors, which includes SIA Hansalink, SIA Fin.lv, and Signet Acquisition III.