Current reports
2015-10-07 08:59:17
Issue of series C bonds and partial redemption of series A and B bonds of the Warsaw Stock Exchange
Current Report No. 23/2015
Date: 6 October 2015
Topic: Issue of series C bonds and partial redemption of series A and B bonds of the Warsaw Stock Exchange
Legal basis: Article 56.1(2) of the Offering Act – current and periodic information
Further to Current Report No. 22/2015 of 29 September 2015, the Warsaw Stock Exchange (“GPW”, “Issuer” or “Company”) informs that on 6 October 2015 it issued 1,250,000 series C bearer bonds (“Bonds”) with a total nominal value of PLN 125,000,000. The nominal value is PLN 100 per Bond and the issue price is PLN 100 per Bond.
The Bonds were offered pursuant to Article 33.2 of the Bond Law of 15 January 2015 (“Bond Law”) by approaching no more than 149 named investors with a proposal to buy the Bonds, and subsequently issued under the Bond Law. The Bonds are unsecured bearer bonds without paper form.
The series C Bonds bear interest at a fixed interest rate of 3.19 percent per annum.
Interest on the Bonds will be paid semi-annually on the following dates: 6 April 2016, 6 October 2016, 6 April 2017, 6 October 2017, 6 April 2018, 6 October 2018, 6 April 2019, 6 October 2019, 6 April 2020, 6 October 2020, 6 April 2021, 6 October 2021, 6 April 2022, 6 October 2022.
The Bonds will be redeemed on 6 October 2022 through the payment of the nominal value of the Bonds to the bondholders.
It is the intention of GPW to have the Bonds introduced to the alternative trading system on Catalyst.
The consolidated debt of the Issuer was PLN 427,962 thousand as at 30 June 2015, including PLN 244,309 thousand of long-term debt under issued series A and B bonds marked with the ISIN code PLGPW0000033. The aforementioned consolidated debt of the Issuer includes a dividend of PLN 100,733 thousand paid out on 4 August 2015.
The outlook of the Company’s debt until the complete redemption of the Bonds and the Issuer’s capacity of meeting its obligations under the Bonds should be considered taking into account the statements and information published by the Issuer as a public company pursuant to the Act on Public Offering, the Conditions of Introducing Financial Instruments to the Organised Trading System, and Public Companies of 29 July 2005.
Furthermore, the Issuer informs that on 6 October 2015 it bought 624,817 of its series A and B bonds marked with the ISIN code PLGPW0000033 from the bondholders at a price of PLN 101.20 per bond. The total amount of the redemption of bonds closed on 6 October 2015 was PLN 63,231,480.40. The Issuer will close further buy-backs of series A and B bonds by 14 October 2015. The early redemption of the bonds marked with the ISIN code PLGPW0000033 is financed with cash raised by the Issuer in the issue of series C Bonds. Pursuant to Article 25.1 of the Bond Law of 29 June 2015, the Issuer redeemed the bonds for cancellation. Those series A and B bonds which have not been redeemed continue to be held by bondholders and traded on Catalyst. They mature on 2 January 2017.
Legal basis: § 5.1 (11) and § 17 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information provided by issuers of securities and on conditions under which information required by legal regulations of a third country may be recognised as equivalent.
Signatures of persons representing the company:
Paweł Tamborski – President of the Management Board
Karol Półtorak – Vice-President of the Management Board