AS Longo Group bond issue

About Group

Established in 2018, Longo has grown its presence as one of the leading used car retailers in the Baltics and has been expanding its activities also in Poland.

In the fragmented Baltic used car market, Longo is the only pan-Baltic used-car specialized retailer.

The Group sells cars in four markets geographically – Latvia, Estonia, Lithuania and Poland with seven dedicated sales locations.

The Group is fully vertically integrated from sourcing (purchasing vehicles) to sales. Its data-driven approach and significant online presence has allowed it to build efficient operations spanning multiple geographies and jurisdictions.

Longo is locally present in its B2B sourcing countries in Western Europe (the Netherlands, Belgium and Germany) and has built a network of hundreds of partners – where it reviews, inspects and buys most of its cars.

The Group is transforming the market, offering the most convenient and safest used car shopping experience end-to-end, both digital and on-site with the largest and widest competitively priced assortment of popular used car models in the Baltics.

The Group employs more than 140 employees and is led by experienced management team. The bonds are be secured by car inventory with a fast turnover and mortgage on real estate (preparation center in Panevėžys). As a large part of the proceeds from the bond issue will be directed to purchases of new inventory, the Group anticipates maintaining a comfortable collateral coverage ratio post-issuance.

Additional information:

https://signetbank.com/wp-content/uploads/2024/11/Longo-Group_Teaser_EN-2024.pdf

Term Sheet