Gottex Brokers SA has been appointed as the Regional Sales Agent for the Swiss market by Mogo Finance to tap the existing listed Senior Secured Bond (Bloomberg ISIN: XS1831877755).
Having found its niche market in the financing of used cars, Mogo’s strategy is to offer its customers convenient and affordable car financing solutions.
Mogo has expanded its operations to 15 countries, running a net loan portfolio over €130mio to date (with €250mio+ loans issued since its inception). Low funding volumes, and intelligent data-driven credit assessments, engender a different risk profile in comparison to traditional leasing companies. The Baltics and Georgia remain the company’s primary markets, but Mogo is growing fast in many other Eastern European countries.
In June 2018, Mogo Finance successfully issued a 4 year senior secured corporate bond, offering investors a 9.5% coupon. The deal was oversubscribed, with a large portion coveted by a variety of asset managers, family offices and private banks.
To maintain this rapid growth in the business, Mogo Finance is currently looking to tap their existing bond issuance.