Eleving Group, namely its group entity AS Eleving Finance, has obtained EC Finance Group Ltd., better known as ExpressCredit.
As a result of the transaction, Eleving Group is taking over Expresscredit’s assets, subsidiaries, and client portfolio, including the entities in Botswana and Zambia.
Mintos investors are not impacted. The Notes backed by loans of Eleving Group and ExpressCredit will not change in any way due to this transaction. Moreover, Eleving Group S.A. (Luxemburg) will provide the corporate guarantee for the liabilities of ExpressCredit Botswana under the Notes setup, and Zambia's exposure toward investors will continue to be paid according to the previously agreed schedule.