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The pool of BEST K3 series bonds already exhausted

By 20 February, subscriptions for the K3 series bonds offered by BEST had exceeded 350,000. As this is the last day of the subscription, only those subscriptions made by 20 February will be reduced pro rata.

 

As part of the third public offering programme addressed to retail investors, BEST offered 350,000 bonds of a nominal value of PLN 100 each, totalling PLN 35 million. On Friday, 20 February, the number of K3 series bonds subscribed to by the investors had exceeded the number of the securities being offered.

 

According to the offer schedule, the subscription period was due to end on 20 February, at the end of the day. At the same time, as provided in the final terms of issue, 20 February is the Day of Exceeding the Subscriptions. This means that those investors who subscribed before this date, that is, between 9 and 19 February, inclusive, will be allocated the number of bonds in accordance with their subscription. Subscriptions made on 20 February will be reduced pro rata.

 

BEST will announce the final results of the public offering of K3 series bonds following their allocation, planned for 24 February 2015.

 

K3 series bonds are 4-year bonds bearing a variable interest rate equal to 3M WIBOR increased by a 3.3% annual margin. Interest will be paid to investors every three months. The company is planning to introduce the bonds offered to trading on the Warsaw Stock Exchange regulated market. The bonds are expected to make their debut on the Catalyst market on 20 March 2015.

 

The K3 series bond issue is the third offer by BEST as a part of the public programme of bond issues up to a total of PLN 300 million, adopted in February 2014. Under the said programme, last year the company sold K1 and K2 series bonds totalling PLN 95 million.

 

Apart from the K3 series bond issue, BEST is also currently carrying out the book building for the K4 bonds offered to institutional investors. These are 5-year bonds bearing a variable interest rate equal to 3M WIBOR increased by a 3.5% annual margin. If the offer proves successful, BEST expects the K4 bonds to make their debut on the Catalyst market on the same day as the K3 series, that is, 20 March.

 

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BEST: Company Overview

 

BEST S.A. has been listed on the Warsaw Stock Exchange since 1997, as a company specialising in the trading and managing of non-performing debts. The BEST Group actively invests in debt portfolios (especially in the field of banking) with the use of securitisation funds, as well as providing debt collection services for third parties: banks, telecommunication operators, power companies, and other mass service providers.

 

BEST is also the sole shareholder of BEST TFI, which obtained its licence to operate from the Polish Financial Supervision Authority (KNF) in 2008. The combination of expertise in the fields of debt collection and that of the establishment and management of investment funds has helped the entity to concentrate all the elements of its business model within one capital group.

 

Currently BEST TFI manages four funds, including three securitisation funds: BEST I NSFIZ, BEST II NSFIZ and BEST III NSFIZ, whose assets include portfolios of claims with a total nominal value of PLN 8.8 billion (as of the end of 2014) and non-public assets fund BEST Capital FIZAN.

 

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For more information visit www.best.com.pl or contact:

 

Krzysztof Woch

NBS Communications

tel: 22 826 74 18 / mobile: 516 173 691

email: kwoch@nbs.com.pl

Maciej Szczepaniak

NBS Communications

tel: 22 826 74 18 / mobile: 514 985 845

email: mszczepaniak@nbs.com.pl

 

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This press release is for promotional purposes only. The Primary Prospect (original Polish name: “Prospekt podstawowy”), as approved by Polish Financial Supervision Authority on 21 March 2014, its possible annexes and update announcements, and Final Bond Issue Conditions (original Polish name: “Ostateczne Warunki Emisji Obligacji”) are the only legal sources for information on the public bond offering by BEST S.A. The Primary Prospect, its possible annexes and update announcements, and Final Bond Issue Conditions have been electronically published on the company’s website (www.best.com.pl). Bonds shall not constitute a bank deposit and shall not be included in any deposit guarantee scheme.

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