Polish banks may be awarding tenders for the sale of receivables with a total nominal value of around PLN 2.5 bn in the coming weeks, according to BEST, one of the leading debt collection companies in Poland. Due to the observed interest, the company may make another public offering soon.
“Compared to previous years, the beginning of this year saw a large increase in interest in the sale of bank receivables. BEST participates in all significant tender procedures currently taking place. They involve the sale of several debt portfolios with a total nominal value of about PLN 2.5 bn. Moreover, we expect some interesting new tenders to come up in the coming days. Among other things, another mortgage pool will be put up for sale. Banks carefully watch their balance sheets, and they are further motivated to act because of the turmoil caused by the Swiss Franc,” said Krzysztof Borusowski, president of BEST.
“We hope to expand our debt portfolio. In order to finance potential investments, we have considered making another public bond offering soon.”
BEST has been an active issuer in the corporate bonds market since 2011. The company’s issues were at first addressed mostly to institutional investors as part of private offerings (A to J series). 2014 saw the start of BEST’s public bond issue programme, with a total value of PLN 300 M, also allowing for the participation of individual investors. So far, the company has carried out two retail bond issues as part of the programme: K1 series (values at PLN 45 M) and K2 series (PLN 50 M).
This press release is for promotional purposes only. The Primary Prospect (original Polish name: “Prospekt podstawowy”), as approved by Polish Financial Supervision Authority on 21 March 2014, its possible annexes and update announcements, and Final Bond Issue Conditions (original Polish name: “Ostateczne Warunki emisji Obligacji”) are the only legal sources for information on the public bond offering by BEST S.A. The Primary Prospect, its possible annexes and update announcements, and Final Bond Issue Conditions have been electronically published on the company’s website (www.best.com.pl). Bonds shall not constitute a bank deposit and shall not be included in any deposit guarantee scheme.
BEST: Company Overview
BEST S.A. has been listed on the Warsaw Stock Exchange since 1997, as a company specialising in the trading and managing of non-performing debts. The BEST Group actively invests in debt portfolios (especially in the field of banking) with the use of securitisation funds, as well as providing debt collection services for third parties: banks, telecommunication operators, power companies, and other mass service providers.
BEST is also the sole shareholder of BEST TFI, which obtained its licence to operate from the Polish Financial Supervision Authority (KNF) in 2008. The combination of expertise in the fields of debt collection and that of the establishment and management of investment funds has helped the entity to concentrate all the elements of its business model within one capital group.
BEST TFI currently manages three securitisation funds: BEST I NSFIZ, BEST II NSFIZ and BEST III NSFIZ, the assets of which include debt portfolios having a total par value of PLN 8.8 billion (as at the end of 2014).
For more information visit www.best.com.pl or contact:
tel: 22 826 74 18 / mobile: 516 173 691
tel: 22 826 74 18 / mobile: 514 985 845