The BEST Group has redeemed series G bonds with the value of PLN 39 million. It has been the biggest redemption of bonds to date.
"The bonds issued in November 2012 were the first such big series of financing acquired by BEST Group with the use of debt securities. They have become an important driving force for our development and growth of our activity. Four years ago, corporate bonds were reasonably popular, and BEST was in a totally different place than today. Therefore, we truly appreciate the investors who put faith in us at that time”. – saidKrzysztof Borusowski, President of BEST.
Series G bonds were offered by Noble Securities SA as part of the public offering which did not require drawing up a prospectus as it was addressed exclusively to investors acquiring securities for the amount not lower than PLN 210 thousand. Series G bonds were 3.5-year bonds, maturing at the end of May 2016. As a result, this is the biggest issue redeemed by BEST Group. The next such big redemption will take place in the second quarter of 2018. The closest redemption will take place in the third quarter of this year and the Group will allocate PLN 17 million for this purpose.
In total, since 2010, the Company and funds managed by BEST TFI have carried out issues with the nominal value of about PLN 671 million. So far, bonds with a value of about PLN 304 million have been redeemed, often before their maturity. Initially, the issues were addressed first and foremost to institutional investors. In 2014, a programme of public issues of bonds with the value of PLN 300 million was launched, in which individual investors took part as well. Seven issues took place under the programme. The last issue was conducted in May this year. The majority of the bonds issued were introduced into trading on Catalyst.
General information about BEST
BEST S.A. is a company listed on the Warsaw Stock Exchange since 1997, specialising in trading in and managing of non-performing debt. BEST Group actively invests in debt portfolios (mainly bank portfolios) using securitisation funds; it also provides debt collection services on a commission basis: to banks, telecoms, power sector companies and other providers of mass-market services.
BEST is also the only shareholder of BEST TFI, which manages investment funds with the total assets of PLN 984 million (as at 30 December 2015). The combination of expertise in the field of debt collection with that in the establishment and management of investment funds helped the entity to concentrate all elements of the business model within one capital group.
The total nominal value of own debt and debt of other entities managed by BEST is over PLN 10.6 billion (as at 30 December 2015). In 2015, BEST Group generated PLN 82.2 million of net profit with operating revenues in the amount of PLN 140.1 million.
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