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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 19 October 2018 it issued two- and four-year floating-rate unsecured coupon bonds under a Bond Issue Programme agreement (notified of by the Issuer in its Current Report No. 54/2018 of 02/10/2018) concluded with mBank S.A., with its registered office in Warsaw, in the total amount of PLN 100,000,000 (namely PLN 66,000,000 as the par value of the four-year bonds and PLN 34,000,000 as the par value of two-year bonds).

 

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 two-year bonds were issued on the following conditions:

1. Issue date – 19 October 2018

2. Redemption date – 19 October 2020

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 34,000,000 (say: thirty-four million Polish Zlotys 00/100)

6. The number of Bonds of the same Series – 34,000 bonds

 

The four-year bonds were issued on the following conditions:

1. Issue date – 19 October 2018

2. Redemption date – 19 October 2022

3. Terms and conditions of interest payment – interest rate compatible with market terms and conditions; interest paid on a quarterly basis

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 66,000,000 (say: sixty-six million Polish Zlotys 00/100)

6. The number of Bonds of the same Series – 66,000 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. 30/06/2018) amounted to PLN 742,685,497.22 (say: seven hundred forty-two million six hundred eighty-seven thousand four hundred ninety-seven Polish Zlotys and 22/100), including overdue liabilities of PLN 85,050.95. The value of the Issuer's overdue liabilities is PLN 85,050.90 (say: eighty-five thousand fifty Polish Zlotys and 95/100). In the consolidated view, liabilities as at 30/06/2018 amount to PLN 2,023,586,060.35 (say: two billion twenty-three million five hundred eighty-six thousand sixty Polish Zlotys and 35/100).

 

Possible future trends regarding the Issuer's liabilities until the complete redemption of the Bonds tendered for purchase: the forecast value of the Issuer’s liabilities before the final redemption of Bonds will not exceed the limits that are commensurate with the scale of the Issuer’s operations, with the Issuer’s liabilities remaining at a safe level and debt ratios remaining at the levels ensuring that the Issuer is able to service liabilities arising from the Bonds.

 

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.