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Scheme-based bond issue – confidential information


The Management Board of LC Corp S.A. (the "Issuer” or the “Company”) reports that on 5 December 2017 it issued 4.5-year unsecured coupon bonds under a Bond Issue Scheme agreement (of which the Issuer informed in Current Report No. 23/2007 dated 27 July 2007) concluded with banks: Polska Kasa Opieki S.A. with its registered office in Warsaw and mBank S.A. with its registered office in Warsaw.

 

The bonds were issued in compliance with relevant laws and regulations in force in Poland.

 

The bonds were issued in Polish zloty as bearer, unsecured, dematerialised, and coupon securities.

 

The bonds will be redeemed at their face value.

 

The bonds were issued under the following terms:

1. Issue date - 5 December 2017

2. Maturity date - 5 June 2022

3. Interest payment terms - interest based on a commercial basis; interest paid in half-year periods

4. Face value of one bond - PLN 1,000 (in words: one thousand zloty 00/100)

5. Face value of the Issue - PLN 50,000,000 (in words: fifty million zloty 00/100)

6. The number of Bonds in the series - 50,000

 

As at the last day of the quarter preceding the disclosure of the proposal of purchasing by not more than four months (i.e. 30 September 2017), the value of the incurred liabilities of the Issuer amounted to PLN 592 million (in words: five hundred ninety two million zloty), including financial liabilities amounting to PLN 468 million (in words: four hundred sixty eight million zloty), and PLN 116 million (in words: one hundred sixteen million zloty) for the purchase of spv shares. The value of past due liabilities of the Issuer amounts to PLN 61 thousand (in words: sixty one thousand zloty).

 

The anticipated value of financial liabilities of the Issuer until the complete redemption of the Bonds: PLN 685 million (in words: six hundred eighty five million zloty), including financial liabilities amounting to PLN 675 million (in words: six hundred seventy five million zloty).

 

As at the last day of the quarter preceding the disclosure of the proposal of purchasing by not more than four months (i.e. 30 September 2017), the value of the incurred liabilities of the Issuer's Group amounts to PLN 1,810 million (in words: one billion eight hundred ten million zloty), including financial liabilities amounting to PLN 1,057 million (in words: one billion fifty seven million zloty), and PLN 116 million (in words: one hundred sixteen million zloty) for the purchase of spv shares.

 

The anticipated value of financial liabilities of the Issuer's Group until the complete redemption of the Bonds: PLN 1,726 million (in words: one billion seven hundred twenty six million zloty), including financial liabilities amounting to PLN 1,326 million (in words: one billion three hundred twenty six million zloty).

 

The subject matter of this report constitutes confidential information within the meaning of Article 7.1. of the Market Abuse Regulations since the issue of bonds of the value mentioned in the report will ensure financing for the Company with regard to future investment projects and also points to the Company’s capacity to incur such liabilities and implement its investment objectives. In the opinion of the Management Board of the Company the foregoing has impact on the valuation of the Company’s shares on the Warsaw Stock Exchange and other financial instruments listed on regulated markets, and also points to the stable financial standing of the Company and its capacity to implement 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 (Market Abuse Regulation) and 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 – confidential information.