Wolf Theiss and Cobalt have advised Accession Capital Partners Credit on a EUR 10 million credit facility granted to Mogo IFN.
ACP Credit is a group of investment funds based in Luxembourg.
Mogo IFN is a subsidiary of the Eleving Group, a Latvian-based non-bank lender. In Romania, Mogo offers car purchase financing plans with effective annual interest rates starting at 55%.
According to Wolf Theiss, the credit facility will serve to finance Eleving Group's expansion in Romania. "The transaction also involved coordination with the Eleving Group's Latvian-based office with regard to the guarantees offered by the group Mogo IFN is a part of."
The Wolf Theiss team included Partner Claudia Chiper, Senior Associate Smaranda Vacaru, and Associate Ana Florea.
The Cobalt team included Specialist Counsel Andrejs Lielkalns and Senior Associate Inga Tenisa.
