Eleving Group raises €200M in 9% senior secured bond, 1.5x oversubscribed
What's the deal? Eleving GroupDealroom has a profile for this one. Try Dealroom → has launched a €200 million senior secured bond carrying a fixed 9% annual interest rate. Issued at par, the bond was nearly 1.5 times oversubscribed.
Why now? The proceeds will refinance the group's €90 million bonds maturing in 2028 and fund further portfolio development. An exchange offer of €25 million is planned for existing bondholders, running from October 6 to 20, 2026, subject to regulatory approval.
Who's involved: Gottex Brokers, BCP SecuritiesDealroom has a profile for this one. Try Dealroom →, and Signet BankDealroom has a profile for this one. Try Dealroom → are managing the issuance, with Aalto Capital as financial adviser. The new bonds are expected to trade on the Frankfurt and Nasdaq Riga exchanges around October 20, 2026.
Chief executive officer Modestas Sudnius attributed the demand to strong investor confidence, noting the oversubscription came "despite market volatility."
The signal: A €200 million raise sits among the larger debt deals of its kind, and the oversubscription suggests appetite for higher-yield paper even in a choppy market. For Eleving, pushing out a 2028 maturity strengthens its balance sheet and buys room to grow its loan book.
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Image credit: Ken Lund
