A leading company in the debt management industry will issue 5-year bonds worth PLN 25 million. The bonds will offer an interest rate tied to the WIBOR 3M rate plus a margin of 4.5%, potentially reaching 10.36%* during the first interest period. Subscriptions for BEST S.A.
bonds will be accepted from July 22 to August 5 this year, with the issue price varying based on the subscription date.
BEST S.A. is offering investors 250,000 series AC1 bonds, each with a nominal value of PLN 100. The bonds will feature quarterly coupon payments and are set to mature on August 7, 2029. They will be listed on the Catalyst market.
The issue price of the bonds for subscriptions placed between 22 and 26 July will be PLN 99.40. For subscriptions made from 27 July to 1 August, the price was set at PLN 99.70 and from 2 to 5 August at PLN 100.00.
– BEST Group continues to pursue dynamic growth, delivering increasingly strong financial results. Our expansion is supported, in part, by funds from individual bond investors, whose long-term commitment is a key pillar of our business success. We are returning to the bond market with an appealing offer tailored to current market conditions. The proceeds from this issue will be used to co-finance the acquisition of claim portfolios in Poland and Italy, said Krzysztof Borusowski, President of the Management Board of BEST.
Subscriptions for series AC1 bonds will be accepted from 22 July to 5 August this year by Dom Maklerski Banku Ochrony Środowiska, Ipopema Securities, Michael/Ström Dom Maklerski and Noble Securities.
The series AC1 bond offering is part of a public bond issue programme with an aggregate nominal value of up to PLN 250 million carried out by BEST under a base prospectus approved by the Polish Financial Supervision Authority on 28 June 2024, including any supplements and update notices, and the final terms and conditions of the series AC1 issue.
| Timeline of the public offering of BEST S.A. bonds. | |
| Subscription opening date | 22 July 2024 |
| Subscription closing date: | 05 August 2024 |
| Allotment date | Interest accrual commencement date | 07 August 2024 |
| Expected issue date | 20 August 2024 |
| Expected first quotation date | 27 August 2024 |
*Calculated at WIBOR 3M as of 15 July 2024, at 5.86. The actual interest rate on series AC1 bonds in the first interest period will be determined according to the base rate WIBOR 3M as of 30 July 2024 ,plus a margin of 4.5 percentage points, as specified in the Final Terms of the issue of series AC1 bonds.
