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 Panevežys,
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.
Darta Keršule
Group CFO
Tel. +371 29578094
darta.kersule@longo.group© 2022 GlobeNewswire
