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BEST plans a public offering of bonds

The value of the programme may reach 300 million PLN.

 

The Management Board of BEST adopted a resolution on the establishment of a public bond issue programme. Today the Company's basic prospectus has been filed with the Polish Financial Supervision Authority (KNF).

 

The programme provides for an issue of bonds with a total par value of up to 300 million PLN. The bonds will be issued in one or several series and offered in a public offering. Today the Company's basic prospectus has been filed with the Polish Financial Supervision Authority (KNF) along with a request for approval.

 

BEST, one of the largest debt collection companies in Poland, has been an active issuer in the market of corporate bonds for several years now. So far the Company has conducted several non-public issues and one public issue (addressed only to investors, each of whom/which has acquired the securities for at least 210,000 PLN, which did not require the preparation of a prospectus). So far bond issues have brought BEST about 128 million PLN (of which 48 million PLN has already been repaid), whereas BEST II NSFIZ and BEST II NSFIZ securitisation funds, which are used by the BEST Group to invest in debt portfolios, have issued to this date the bonds with a total value of approx. 224 million PLN (of which 130 million PLN has already been repaid or for which redemption is pending).

 

- So far, our bond issues have been addressed primarily to financial institutions, professional investors and a small group of individual investors. Now we want to expand our investor circle, which is why we have decided to launch the public offering, open for an unlimited number of individual investors who are interested in an alternative not only to investments in shares, but also bank deposits. Over the last few years we have proven that BEST is a reliable issuer, able to effectively use the funds raised,” points out Krzysztof Borusowski, President of BEST.

 

- The BEST Group's strength consists of its solid financial foundations: dynamically growing revenue and one of the lowest debt ratios in the debt collection industry (with the ratio calculated as the relationship between net debt and equity). We want to exploit this potential and strengthen our position in the market of investment in bank claims portfolios,” adds Krzysztof Borusowski.

 

Issues of individual bond series under the programme will take place during the prospectus validity period, i.e. within 12 months of its approval. 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. BEST plans to introduce the bonds offered as part of the programme to trading on the regulated market operated by the WSE.

 

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This material is for promotional purposes only. The legally binding document containing information on the bond issue programme developed by BEST S.A. and the bonds issued as part of the programme is the basic prospectus which will be published on the BEST S.A. website (www.best.com.pl) following the approval thereof by the Polish Financial Supervision Authority (KNF). The Bonds will not constitute a bank deposit or be covered by the deposit guarantee scheme.

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