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All BEST bonds find buyers already on the first subscription day

The demand for BEST L2 series bonds exceeded the number of debt securities offered as early as on the first subscription day. Accordingly, the subscription period has been shortened and subscriptions placed on 4 and 5 February will be reduced proportionately.

 

Subscriptions for L2 series bonds, offered as part of public offering addressed to retail investors, started on Thursday, 4 February. On the same day, the total number of bonds for which the investors had placed subscriptions exceeded the offered pool (on 4 February, i.e. the Oversubscription Day). Accordingly, the subscription period has been shortened. The subscription end date, originally set for 17 February, has been moved to 5 February 2016.

 

In accordance with the Final Terms of the issue of L2 series bonds, subscriptions placed on the Oversubscription Day and on the last day of the subscription period, i.e. on 4 and 5 February, will be reduced proportionately.

 

"We are very happy to see that all retail bonds in our offer found their owners as early as on the first subscription day. In our view this proves that investors trust our company and put confidence in the development strategy consistently implemented by BEST Group. According to our announcements, we plan to complete the public issue programme for bonds with the total value of up to PLN 300 million launched in 2014. As part of the programme, we will be able to offer additional bonds with a value of up to PLN 50 million. The success of the current issue enables us to look at these plans with optimism", saysKrzysztof Borusowski, President of BEST.

 

As part of the current offering, BEST has offered retail investors bonds with a total nominal value of PLN 40 million. These are 4-year bonds bearing variable interest equivalent to 3M WIBOR increased by 3.8% margin (which constitutes 5.5% per year in the first interest period). Interest will be paid to investors every 3 months.

 

For the purposes of the issue of L2 series bonds, a new consortium of brokerage houses has been established. Subscriptions are placed to the mBank Brokerage Hose (Offering) and the Brokerage House of PKO Bank Polski (Member of the Consortium).

 

The offer of L2 series bonds is the sixth issue conducted by BEST under the public issue programme for bonds with a total nominal value of up to PLN 300 million. As part of this programme, the company has already conducted two issues with a total nominal value of PLN 210 million, including three series with a total value of PLN 130 million addressed to retail investors. All the bonds issued under the programme are listed by Catalyst.

 

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General information about BEST

 

BEST S.A. is a company that has been listed on the Warsaw Stock Exchange since 1997. It specialises in the trading and management of non-performing debts. The BEST Group actively invests in debt portfolios (primarily in bank debt portfolios) with the use of securitisation funds and provides debt collection services on commission – for banks, telecommunication operators, power companies, and other mass service providers.

 

BEST is also the sole shareholder of BEST TFI, which manages investment funds with assets totalling PLN 984 million (as of 30 December 2015). The combination of expertise in the field of debt collection and in the establishment and management of investment funds has made it possible to concentrate all the elements of the business model within one capital group.

 

The total nominal value of own debt and the debt of other entities managed by BEST is over PLN 10 billion (as of 30 September 2015).

 

In 2014, the BEST Group generated a net profit of PLN 58.9 million attributable to the Company's shareholders, with operating revenues of PLN 124 million.

 

For further information, visit www.best.com.pl, or contact us at:

Krzysztof Woch

NBS Communications

tel. 22 826 74 18 / mobile 516 173 691

e-mail: kwoch@nbs.com.pl

Maciej Szczepaniak

NBS Communications

tel. 22 826 74 18 / mobile 514 985 845

e-mail: mszczepaniak@nbs.com.pl

 

You can also follow BEST Group on Twitter: https://twitter.com/BEST_Grupa

 

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This press release is for promotional purposes only. The only legal sources of information on public offering of BEST S.A. bonds are: the Base Prospectus, which was approved by the Polish Financial Supervision Authority (KNF) on 9 June 2015, addenda and updates to the Base Prospectus, and the Final Terms of the Bond Issue. The Base Prospectus, addenda and updates to the Base Prospectus and the Final Terms have been published and are available electronically on the company's website (www.best.com.pl). The bonds will not constitute a bank deposit and will not be covered by the deposit guarantee scheme.

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