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High demand for BEST bonds, subscription shortened to 25 May

On 24 May, which was the third day of the subscription, the demand for BEST’s series R4 bonds with a total nominal value of PLN 60 million exceeded the number of bonds offered. As a result, subscriptions will only be accepted today, and any subscriptions made on 24 and 25 May will be reduced proportionately.

The public offer of BEST’s bonds has been highly popular among investors and will end earlier. The number of subscriptions for 5-year series R4 bonds exceeded the number of offered debt securities on the third subscription day. Therefore, according to the terms of issue, the acceptance of subscription ends today, 25 May, rather than 5 June as originally planned. Investors who subscribed on 22 and 23 May will be allotted as many bonds as they subscribed for, while subscriptions made on 24 and 25 May will reduced proportionately.

Series R4 bonds are offered as part of the final phase of the second programme for the public issue of BEST’s bonds with a total value of up to PLN 200 million. In the current issue, the Company has offered investors 600,000 bonds with a nominal value of PLN 100 each, and a total nominal value of PLN 60 million. The bonds carry a variable interest amounting to WIBOR 3M, plus a 3.3% margin, which amounts to more than 5% per annum in the first interest period. That bond series will be redeemed in June 2022.

The entity offering BEST’s bonds as part of the second programme is the brokerage firm Dom Maklerski PKO Banku Polskiego. Subscriptions for series R4 can also be placed with the brokerage firms Biuro Maklerskie Alior Banku and Dom Maklerski Banku Handlowego.

As has been the case with all bonds offered under the public bonds issue programme of BEST, the series R4 debt securities will be introduced into trading on the regulated market operated by the Warsaw Stock Exchange as part of Catalyst.

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General information about BEST

BEST S.A. specialises in the 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.

Combining competences in debt collection, and in creating and managing investment funds, allow 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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