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BEST K2 series bonds will be available for 975 investors

The BEST board of directors has allotted the K2 series bonds. In the last 2 days subscriptions have been reduced on average by 23.4%.

 

In the second public offer for retail investors, BEST offered 500,000 with the nominal value of 100 PLN each. That means with an aggregate value of 50,000,000 PLN. Subscriptions were accepted from 1st to 17th October. In that time subscriptions were submitted by 977 investors, in total 529,060 bonds. Due to the fact that on 16th and 17th of October the amount of available bonds was exceeded, subscriptions in the last 2 days have been proportionally reduced. The average reduction rate was 23.4%.

 

In the end the K2 series bonds were allotted 975 investors. The company plans to introduce securities to turnover on a regulated market led by the Stock Exchange. The debut’s term of the K2 series bonds on catalyst is expected on 13th of November 2014.

 

K2 series bonds are 4-year bonds, bearing interest according to an annual fixed rate of 6 %. Interest will be paid out to the investors every 3 months.

 

According to announcements we allot raised capital for further development of our group, particularly to increase the share in the BEST II NSFIZ fund from the present 17% to 100%. After the transaction is finalized this fund will be fully consolidated, the price of BEST group assets and clarity of our financial reports will increase because the results will reflect the actual range of our activity – said Krzysztof Borusowski, BEST director.

 

BEST II NSFIZ is one of 3 investment funds managed by BEST TFI, and BEST S.A. specializes in handling debt portfolios belonging to these funds. Currently BEST Group shares in BEST I NSFIZ, BEST II NSFIZ and BEST III NSFIZ shares amount to 100%, 17% and 50% respectively.

 

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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.

 

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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).

 

 

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For more information visit www.best.com.pl or contact:

 

Krzysztof Woch

NBS Communications

tel: 22 826 74 18 / mobile: 516 173 691

email: kwoch@nbs.com.pl

Maciej Szczepaniak

NBS Communications

tel: 22 826 74 18 / mobile: 514 985 845

email: mszczepaniak@nbs.com.pl

 

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