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BEST launches public bonds offer worth PLN 60 million.

BEST will offer 5-year series R4 bonds with a total nominal value of PLN 60 million. Subscriptions will be accepted beginning 22 May this year in the brokerage firms Dom Maklerski PKO Banku Polskiego, Biuro Maklerskie Alior Banku and Dom Maklerski Banku Handlowego.

“Following high investments in 2016, at the beginning of this year BEST Group has seen a dynamic increase in repayments under the managed claims portfolios and investments in new ones. I am convinced that our group will grow even faster in the quarters to come. We are preparing to purchase our first claims portfolios in Italy. With an issue worth PLN 60 million, we are planning to close our second public bonds issue programme worth up to PLN 200 million. The bonds are one of our main sources of funding for investments, and we already have a new programme on our minds”, said Krzysztof Borusowski, President of BEST’s Management Board.

As part of the announced issue, BEST offers to investors 600,000 series R4 bonds with a nominal value of PLN 100 each. The 5-year bonds (to be redeemed in June 2022) 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. The interest rate is the same as in the two previous issues, where already on the first day of subscription the investors subscribed for more bonds than the Company offered.

As was the case with previous issues of bonds offered under the current programme, the interest rate on series R4 bonds will be calculated from the first day of the subscription process. Therefore, the issue price of the bonds will depend on the day when a subscription is made. On the first day, the price will be equal to the bond nominal value, i.e. PLN 100, and on the following days it will be increased by the equivalent of interest accrued.

Day when subscription is made

Issue price of series R4 bonds (PLN)

22 May 2017

100.00

23 May 2017

100.01

24 May 2017

100.03

25 May 2017

100.04

26 May 2017

100.06

27 May 2017

100.07

28 May 2017

100.08

29 May 2017

100.10

30 May 2017

100.11

31 May 2017

100.12

1 June 2017

100.14

2 June 2017

100.15

3 June 2017

100.17

4 June 2017

100.18

5 June 2017

100.19

Subscriptions for series R4 bonds will be accepted from 22 May to 5 June this year. However, if investors subscribe for more bonds than the Company is offering, the subscription period could be shortened. Upon the Oversubscription Date, i.e. the day when the total number of bonds for which investors have subscribed since the beginning of subscription exceeds the number of bonds offered, subscriptions will be accepted only until the end of the following working day. Subscriptions made on the Oversubscription Date and on the following day will be reduced proportionately. In such a case, the full number of the subscribed bonds will be awarded only to investors who subscribed before the Oversubscription Date.

Similarly to the previous issue, subscriptions for series R4 bonds will be accepted by the brokerage firms Dom Maklerski PKO Banku Polskiego, Biuro Maklerskie Alior Banku and Dom Maklerski Banku Handlowego. In total, they operate more than 200 branches across the country.

Time plan for the public offering of BEST’s series R4 bonds:

 

Subscription opening date:

22 May 2017

End of subscription1):

5 June 2017

Allotment date:

6 June 2017

Expected Issue Date:

21 June 2017

Expected date of admission to trading:

28 June 2017

1) The period during which subscriptions are accepted may be shortened if investors oversubscribe for the bonds.

 

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General information about BEST

BEST S.A. specialises in trading in and managing 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.

Combining competences in debt collection, and creating and managing investment funds allowed 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 13.4 billion (as of 31 March 2017). In 2016, BEST Group generated a net profit of over PLN 38 million and more than PLN 148 million of full cash EBITDA, while operating revenues exceeded PLN 210 million.

 

 

 

 

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

Krzysztof Woch

NBS Communications

phone 22 826 74 18 / mobile 516 173 691

e-mail: kwoch@nbs.com.pl

Maciej Szczepaniak

NBS Communications

phone 22 826 74 18 / mobile 514 985 845

e-mail: mszczepaniak@nbs.com.pl

 

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

 

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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 firm Dom Maklerski PKO Banku Polskiego (www.dm.pkobp.pl).

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