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Issue of Bonds under Bond Programme - Inside Information


The Management Board of LC Corp S.A. (“the Issuer” or “the Company”) informs that on 28 February 2018 it issued four-year unsecured coupon bonds under a Bond Issue Programme agreement concluded with the following banks: Bank Polska Kasa Opieki S.A., with its registered office in Warsaw, and mBank S.A., with its registered office in Warsaw (which agreement was mentioned by the Issuer in the Current Report No. 23/2007 of 27/07/2007.).

 

The bonds were issued according to relevant laws and regulations applicable in the Republic of Poland.

 

The bonds were issued in PLN as unsecured, dematerialised, coupon bearer securities.

 

The bonds will be redeemed at the Bond par value.

 

The bonds were issued on the following conditions:

1. Issue date – 28 February 2018

2. Redemption date – 28 February 2022

3. Terms and conditions of interest payment – interest rate compatible with market terms and conditions; interest paid every six months

4. A par value of each bond – PLN 1,000 (say: one thousand Polish Zlotys 00/100)

5. A par value of the Issue – PLN 45,000,000 (say: forty-five million Polish Zlotys 00/100)

6. The number of Bonds of the same Series – 45,000 bonds

 

The value of liabilities assumed by the Issuer as at the last day of the quarter, falling not later than four months before the date of making the purchase proposal available (i.e. 31 December 2017) amounts to PLN 587 million (say: five hundred eighty-seven million Polish Zlotys), including financial liabilities of PLN 496 million (say: four hundred ninety-six million Polish Zlotys) and PLN 77 million (say: seventy-seven million Polish Zlotys) in respect of the purchase of SPV shares. The value of the Issuer's overdue liabilities is PLN 36,000 (say: thirty-six thousand Polish Zlotys).

 

Possible future trends regarding the Issuer's liabilities until the complete redemption of the Bonds: PLN 685 million (say: six hundred eighty-five million Polish Zlotys), including financial liabilities of PLN 675 million (say: six hundred seventy-five million Polish Zlotys).

 

The value of liabilities assumed by the Issuer's Group as at the last day of the quarter, falling not later than four months before the date of making the purchase proposal available (i.e. 31 December 2017) amounts to PLN 1,850 million (say: one billion eight hundred fifty million Polish Zlotys), including financial liabilities of PLN 1,081 million (say: one billion eighty-one million Polish Zlotys) and PLN 77 million (say: seventy-seven million Polish Zlotys) in respect of the purchase of SPV shares.

 

Possible future trends regarding the Issuer Group's liabilities until the complete redemption of the Bonds: PLN 1,765 million (say: one billion seven hundred sixty-five million Polish Zlotys), including financial liabilities of PLN 1,365 million (say: one billion three hundred sixty-five million Polish Zlotys).

 

The contents of this report constitute inside information within the meaning of Article 7(1) of MAR, as the issue of bonds of the value mentioned herein will ensure financing for the Company in view of future investment projects, and indicates the Company's capacity for incurring liabilities of this type, as well as its capability of attaining its investment objectives. According to the Company's Management Board, the above fact has a bearing on the price of the Company's shares listed on the Warsaw Stock Exchange and other financial instruments listed on regulated markets, and furthermore, it also implies that the Company's financial situation is stable and that it is capable of implementing future investment projects.

 

 

 

Legal basis: Article 17(1) of the Regulation of the European Parliament and of the Council (EU) No. 596/2014 on market abuse repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC – inside information.