On 25 October the subscription for 4.5-year R1 series bonds offered by BEST exceeded 500 000 bonds. In accordance with the schedule and the terms of issue, the subscriptions will be collected until 26 October. Subscriptions submitted on the last two days will be proportionally reduced.
As a part of the offering for R1 series bonds, BEST offered 500,000 bonds with a nominal value of PLN 100 each, totalling PLN 50 million. These are 4.5-year variable interest bonds, with the interest rate amounting to WIBOR 3M plus a 3.3% margin, which amounts to approximately 5% per annum in the first interest period.
The subscription period started on 10 October and, according to the preliminary schedule of the offer, the termination of the period was foreseen as 19 October; however, due to other public offerings of bonds and shares ongoing concurrently, the period of subscription collection was extended for a further week, to 26 October. On Tuesday, 25 October, the offered number of bonds was exceeded. The subscription will be terminated in accordance with the schedule, i.e. on Wednesday, 26 October. Subscriptions submitted on the final two days (25 and 26 October) will be proportionally reduced.Investors who submitted their subscriptions between 10 and 24 October will be allotted with the full number of bonds to which they subscribed.
BEST will announce the final results of the public offering of R1 series bonds after the allocation of bonds takes place. The Company plans to introduce the bonds to trading on the regulated market operated by the WSE – Catalyst. The estimated date of admitting bonds to trading on Catalyst is 16 November 2016.
The public offering of R1 series bonds is the first issue conducted under the second public issue programme for BEST bonds of a total value of up to PLN 200 million. In the first half of the current year BEST completed the first two-year public issue programme for bonds of a total nominal value of PLN 300 million. This year's retail issues carried out under this programme (L2 and L3 series), of a total nominal value of PLN 90 million, ended in substantial oversubscription.
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 investment funds with assets totalling PLN 640 million (as of 30 June 2016). The combination of expertise in debt collection and in the establishment and management of investment funds allows the entity to concentrate all elements of its business model within a single capital group.
The total nominal value of own claims and third party claims managed by BEST exceeds PLN 11 billion (as of 30 June 2016).
In 2015, the BEST Group generated a net profit of PLN 82 million, with operating income amounting to PLN 140 million.
To receive more information, visit www.best.com.pl or contact us at:
tel. 22 826 74 18 / mobile 516 173 691
tel. 22 826 74 18 / mobile 514 985 845
email address: email@example.com
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 public offering of bonds conducted by BEST S.A. (the Issuer) under 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 Bond Issue. The Base Prospectus, addenda and updates to the Base Prospectus and the Final Terms have been published and are available electronically on the Issuer's website (www.best.com.pl) and also, for informational purposes, on the website of the Brokerage House of PKO Bank Polski (www.dm.pkobp.pl).