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BEST's prospectus for the second bond issue programme now approved

The Polish Financial Supervision Authority has approved the basic prospectus of BEST S.A. (BEST) for the second bond issue programme with a total value of up to PLN 200 million. The programme is an important element of the BEST's Group strategy to join the top ten largest debt managing businesses in Europe within a few years.

 

– The approval of the prospectus paves the way for subsequent bond issues targeted at a wide circle of investors. In this way we will be able to further optimise our capital sources and continue a strategy of continuous business growth. Our ambition for the years 2016–2020 is to enter the top ten of groups in the debt management sector that are the largest in terms of market capitalisation, said Krzysztof Borusowski, President of BEST.

 

– The first half of this year was another period of significant improvement of our key business ratios, which best testifies to our ability to skilfully use the investors' money. Our experience from previous issues reinforces our belief that BEST bonds are an attractive and desirable investment option. The first issue under the new programme may start in the next few weeks, added Krzysztof Borusowski.

 

In the first half of 2016, BEST finalised its first two-year public bond issue programme with a total par value of PLN 300 million. This year's retail issues under that programme (L2 and L3 series) with the total par value of PLN 90 million were a great success: the subscription periods for both series were shortened to two days, and the reduction amounted to 64% and 50%, respectively.

 

The global coordinator and market maker for the second bond issue programme of BEST is the Brokerage House of PKO Bank Polski – the Company’s partner from the first programme.

 

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BEST: Company Overview

BEST S.A. is a company that has been listed on the Warsaw Stock Exchange since 1997, specialising in the trading in and managing of non-performing debts. The 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 a sole shareholder of BEST TFI, which manages investment funds with total assets of PLN 1.25 billion (as of 30 June 2016). With its combined expertise in debt collection and creation and management of investment funds, BEST has been able to aggregate all components 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 11 billion (as of 30 June 2016).

 

In 2015, the BEST Group generated a net profit of PLN 82 million with operating revenues exceeding PLN 140 million.

 

For more information, please visit www.best.com.plor contact:

Krzysztof Woch

NBS Communications

phone: 22 826 74 18/mobile 516 173 691

email: kwoch@nbs.com.pl

Maciej Szczepaniak

NBS Communications

phone: 22 826 74 18/mobile 514 985 845

email: mszczepaniak@nbs.com.pl

 

You can also follow the BEST Group on Twitter: https://twitter.com/BEST_Grupa

 

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This material is for promotional purposes only. The only binding document concerning the bond issue by BEST S.A. (the Issuer) under the Issuer's bond programme are: the Basic Prospectus, which was approved by the Polish Financial Supervision Authority (KNF) on 3 October 2016 along with annexes and communication updates as well as the final terms of issue for a given series of bonds which will be published on the Issuer's website (www.best.com.pl) and the website of PKO Bank Polski Brokerage House (www.dm.pkobp.pl).

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