By 16 October, a day before the end of the subscription, the subscriptions for K2 series bonds offered by BEST had exceeded 500,000 items. This means that subscriptions placed on 16 and 17 October will be reduced proportionally.
Within this second public issue programme addressed at retail investors, BEST issued 500,000 bonds with a par value of PLN 100 each, with a total value of PLN 50 million. On Thursday, 16 October, the number of K2 series bonds subscribed for by investors exceeded the number of securities offered.
According to the final issue terms and conditions, 16 October is the 'Subscription Exceeding Day'. Investors that placed subscriptions before this date, so between 1 and 15 October inclusive, will be allotted bonds in accordance with the subscriptions they placed (100% allocation). However, subscriptions placed on 16 and 17 October will be reduced proportionally.
"We are pleased that, similarly to the issue in April, the public issue of BEST bonds has been received with huge interest among individual investors. According to initial information, the number of subscriptions placed for K2 series bonds may exceed the number of subscriptions for K1 series bonds, for which 988 investors subscribed," said Krzysztof Borusowski, President of BEST.
The Company will report on the final results of the public issue of K2 series bonds after the allocation scheduled for Monday, 20 October.
K2 series bonds are 4-year bonds bearing interest at a 6% fixed annual percentage rate. Interest will be paid to investors every 3 months. The Company is planning to introduce the bonds to trading on the regulated market maintained by the Warsaw Stock Exchange. They are expected to be listed on the Catalyst market on 13 November 2014.
The current bond issue is the second such an issue carried out by BEST within the public program having a total value of PLN 300 million adopted in February this year. The company has already sold the K1 series bonds (PLN 45 million) and currently it is offering the K2 series bonds (PLN 50 million).
This press release is strictly promotional. The only legal source of information concerning the public offering of BEST S.A. bonds is the Basic Prospectus, approved by the Polish Financial Supervision Authority on 21 March 2014. Any addendums and communications to the Basic Prospectus and Final Terms of the Bond issue have been published in electronic form and are available on the Company’s website (www.best.com.pl). Bonds will not constitute a deposit and will not be included in the deposit guarantee scheme.
General information about BEST
BEST S.A. is a company listed on the Warsaw Stock Exchange since 1997. It specializes in the trade and management of unpaid debts. The BEST Group invests in debt portfolios (especially in bank debt portfolios) with the use of securitization funds and provides debt collection services on commission – for banks, telecommunication operators, power companies and other mass service providers.
BEST is also a shareholder of BEST TFI, which obtained a permit from the Polish Financial Supervision Authority in 2008. The combination of competences concerning debt collection and the establishing and managing of investment funds has enabled the concentration of all elements of the business model in one capital group.
BEST TFI currently manages three securitization funds: BEST I NSFIZ, BEST II NSFIZ and BEST III NSFIZ. The aggregate nominal value of debt portfolios in their assets is 8,200,000,000 PLN (as of end of June 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