As early as on the first day of subscriptions, BEST S.A. found investors willing to buy the offered pool of bonds with a value of PLN 50 million.As a result, the subscription period has been shortened, and all the subscriptions will be reduced proportionately.
As a result of a strong interest among investors, the subscriptions will end today, on 13 April, and not on 22 April as was originally planned.According to the final issue terms for L3 series bonds, all subscriptions will be reduced proportionately. The reduction rate will be published next week.
‘Investors have once again bought our bonds instantaneously, which is the best proof that they trust the company and believe in its future and further growth.For us, this is a very positive sign, which shows that we can take into consideration subsequent bond issues as a form of financing when planning our further development’, said Krzysztof Borusowski, President of BEST S.A.
BEST S.A. has offered to retail investors bonds with a total nominal value of PLN 50 million.These are 4-year bonds with a variable interest rate equivalent to WIBOR 3M increased by a margin of 3.5% (which is equivalent to 5.2% per annum in the first interest period).Interest will be paid to investors every three months.The company is going to apply for admitting the bonds to trading on Catalyst.
All the information on the current issue of the bonds is available at:
BEST: Company overview
BEST S.A. is a company listed on the Warsaw Stock Exchange since 1997, specialising in trading in and managing of non-performing debt.The BEST Group actively invests in debt portfolios (especially banking ones) with the use of securitisation funds, and also provides debt collection services for third parties: banks, telecommunication operators and power companies, and other mass service providers.
BEST is also the sole shareholder of BEST TFI, which manages investment funds with total assets of over PLN 984 million (as of 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 of 30 December 2015).In 2015, the BEST Group generated a net profit of PLN 82.2 million with operating revenues of PLN 140.1 million.
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