BEST has allocated its series R2 bonds, with a total nominal value of PLN 30 million, to 359 investors. The Company accelerated the allocation deadline from 31 January to 18 January because subscriptions ended earlier than expected.
Due to the very high demand for BEST’s series R2 bonds, subscriptions were accepted only on two days, i.e. 16 and 17 January this year, while the subscription was originally planned to end on 30 January.
Already by the first subscription day, investors subscribed for more bonds than BEST offered, with subscriptions made on Monday and Tuesday totalling over PLN 48.8 million. According to the final terms of issue, all subscriptions were reduced proportionately, with the average reduction rate amounting to 38.6%.
"Once again, the investor demand for BEST’s bonds was so high that we ended the subscription early. I would like to thank our investors for their confidence in BEST Group. As part of our bonds issue programme, we can still issue securities worth PLN 120 million. Those investors who have not managed to subscribe for BEST’s R2 series bonds will soon get another chance to turn a profit with us," says Krzysztof Borusowski, President of the Management Board of BEST.
BEST has offered investors 300,000 series R2 bonds with a nominal value of PLN 100 each, and a total nominal value of PLN 30 million. The 4.5-year bonds (to be redeemed in August 2021) carry a variable interest rate, amounting to WIBOR 3M plus a 3.3% margin, yielding more than 5% per annum in the first interest period.
BEST’s bonds, as part of the current second public issue of bonds, are offered by the brokerage company Dom Maklerski PKO Banku Polskiego. BEST plans to gradually introduce all bonds issued as part of the programme into trading on the regulated market operated by the Warsaw Stock Exchange as part of Catalyst.
General information about BEST
BEST S.A. specialises in trading in and managing of non-performing debts, and has been listed on the Warsaw Stock Exchange since 1997. BEST Group actively invests in debt portfolios (especially in bank debts) using securitisation funds, and provides debt collection services to third parties: banks, telecommunication and power companies as well as other providers of general services.
BEST is also the sole shareholder of BEST TFI, which manages securitisation funds with a total net asset value of approx. PLN 680 million (as of 30 September 2016). Combining competences in debt collection, and creating and managing investment funds, allows us to concentrate all elements of our business model in a single capital group.
The total nominal value of own claims and third party claims managed by BEST is more than PLN 11 billion (as of 30 September 2016).
In 2015, BEST Group generated a net profit of over PLN 82 million, while operating revenues exceeded PLN 140 million.
For more information, visit www.best.com.pl or contact us:
phone 22 826 74 18 / mobile 516 173 691
phone 22 826 74 18 / mobile 514 985 845
You can also follow BEST Group on Twitter: https://twitter.com/BEST_Grupa
This material is for promotional purposes only. The only legally binding sources of information on the issue of bonds by BEST S.A. (Issuer) as part of the issue programme established by the Issuer include: the Base Prospectus, which was approved by the Polish Financial Supervision Authority (KNF) on 3 October 2016, addenda and updates to the Base Prospectus, and the Final Terms of Bonds Issue. The Base Prospectus, addenda and updates to the Base Prospectus and the Final Terms have been published and are available on the Issuer's website (www.best.com.pl) and also, for information purposes, on the website of the brokerage company Dom Maklerski PKO Banku Polskiego (www.dm.pkobp.pl).