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Approval of BEST prospectus

Today, 21 March 2014, the Polish Financial Supervision Authority (KNF) approved BEST's basic prospectus for a public bond issue programme.

 

In accordance with a resolution of BEST Management Board from February, the Company plans to issue bonds of a total par value of up to 300 million PLN. The bonds will be issued in several series and offered in a public offering. The Company plans to publish the basic prospectus on 24 March 2014.

 

Detailed parameters for each series of bonds will be specified in separate resolutions of the Management Board of BEST and published in accordance with the requirements for public offerings of securities. The Company plans to introduce the offered bonds to trading on the regulated market operated by WSE-Catalyst.

 

BEST is one of the largest companies in the debt management market in Poland and an active issuer in the market of corporate bonds. So far the Company's bond issues have allowed it to raise approx. 128 million PLN, of which 48 million has already been repaid. Moreover, BEST II NSFIZ and BEST III NSFIZ funds (managed by BEST TFI – a subsidiary of BEST) have issued to this date the bonds with a total value of approx. 224 million PLN, of which 130 million has already been repaid. In 2011 bonds of BEST, BEST II NSFIZ and BEST III NSFIZ made their debut on Catalyst (WSE Bond Market). Issue agents for BEST bonds within the public bond issue programme are: mBank S.A. and mBank Brokerage House, whereas the Company legal advisor is the Allen & Overy, A. Pędzich sp. k. law firm.

 

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This press release is for promotional purposes only. The only legal source of information on the public offering of BEST S.A. bonds is the Basic Prospectus, which has been approved by the Polish Financial Supervision Authority (KNF) on 21 March 2014, and the Final Terms of Bond Issue. The Basic Prospectus and the Final Terms will be published electronically and available on the Company's website at www.best.com.pl. The Bonds will not constitute a bank deposit or be covered by the deposit guarantee scheme.

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