Mogo Finance commences process to amend terms and conditions of EUR 2022 bonds Invitation to bondholders’ meeting on 27 January 2021 following supportive feedback from investor consultation period Riga, Latvia, 11 January 2021. Mogo Finance and its group companies (the “Group”), specialized in used car financing, has commenced the formal process to amend the terms [...]
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Continuing stronger performance and on track towards greater financial flexibility   Riga, Latvia, 6 January 2021. Mogo Finance and its group companies (the “Group”), specialized in used car financing, is set to continue its strong performance in financial year 2021 under the ongoing COVID conditions. Following a successful 2020 based on a smooth transition to [...]
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First tangible signs of success towards leaner and more profitable organization   OPERATIONAL AND STRATEGIC HIGHLIGHTS Performance in mogo markets recovered from initial pandemic shock; progress in focus on most profitable marketsIssuances and debt collection back to pre-Covid-19 level – portfolio quality recoveringAdmin expenses unchanged y-o-y; adjusted for expansion of business – decreasingIntegration of acquired [...]
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2019-04-01 MogoFinance News 2
Riga, Latvia, 3 November 2020. Mogo Finance and its group companies (the “Group”), specialized in used car financing, cordially invites investors and analysts to an earnings call with the Management Board on 12 November 2020, 15:00 CET, following the publication of its unaudited 9M 2020 results on 10 November 2020. CEO Modestas Sudnius and CFO Maris Kreics accompanied by CRO Julija Lebedinska-Ļitvinova Ph.D.will present [...]
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Mogo Finance group, one of the largest European used car finance groups, has announced it is planning to acquire two lending companies – Kredo and Tigo. Both companies currently are part of Finitera group. The acquisitions are subject to regulatory approval. Finitera has been seeking a strategic investor since the beginning of 2020. Its management [...]
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Successful transition through Covid-19 – Strong signs of recovery towards the end of H1 2020 OPERATIONAL AND STRATEGIC HIGHLIGHTS Measures implemented in response to Covid-19 prove to be effective – Operating countries nearly back to normal Declining issuances in H1 2020 recovering since May from troughs in April, but still below pre-Covid-19 levels and H1 [...]
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Riga, Latvia, 20 July 2020. Mogo Finance and its group companies (the “Group”), specialized in used car financing, cordially invites investors and analysts to a conference call with the Management Board on 29 July 2020, 16:00 CET, following the publication of its unaudited 6M 2020 results on 27 July 2020. Conference Call: CEO Modestas Sudnius [...]
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More than 50% from equity investors in Mogo Group and Sebo overlap, however according to IAS 24 both companies before transaction did not qualify as related parties. Mogo Finance group, one of largest European used car finance groups, has just acquired 5th largest (measured by total assets) non-banking credit organizations in Moldova – Sebo Credit [...]
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Mogo financial calendar in 2017
Riga, Latvia, 10 July 2020. Mogo Finance and the representative of the investors in the Euro bonds have agreed to temporarily increase the potential financial covenants headroom, in exchange of a liquidity undertaking that would ensure timely payment of interests. We would like to stress that no covenant breach of the Euro bonds has occurred [...]
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Mogo Finance announces changes to Board composition
Fitch Ratings – Frankfurt am Main – 02 Jul 2020: Fitch Ratings has affirmed Mogo Finance S.A.’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Negative Outlook. A full list of rating actions is at the end of this rating action commentary. The Negative Outlook reflects that in Fitch’s view, the risks to Mogo’s [...]
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