Current reports

2015
Number Publication date Subject
RB 5/2015 2015-03-20 Issue of series J bonds

The Management Board of Fast Finance S.A. (the "Issuer") hereby informs that on 20 March 2015 is passed a resolution to allot 24,848 (twenty four thousand eight hundred and forty-eight) series J ordinary coupon secured bearer bonds with a nominal value of PLN 1,000 (one thousand Polish zloty) each, for a total value of PLN 24, 848,000 (twenty-four million eight hundred and forty-eight thousand Polish zloty). The series J bonds were offered in accordance with the procedure laid down in Article 9(3) of the Bonds Act (private placement).

 

The bonds were issued with the following issue terms:
- issue purpose: refinancing of financial obligations under series D bonds issue and conducting of operating activity connected with the purchase, directly or through Fast Finance NS FIZ, of receivables portfolios, as well as their servicing and management;
- issue volume: PLN 24,848,000
- nominal value and issue price of a single bond: PLN 1,000
- redemption terms: bonds redemption date shall be 31 December 2016.
- interest terms: floating interest rate, WIBOR 6M + 7.50 p.p. y/y, semi-annually;
- collateral: (i) registered pledge up to PLN 75m (the highest collateral amount), registered pledge on all present and future monetary receivables under delinquent loans and lines of credit purchased by the Issuer under receivables transfer agreements from EuroBank S.A.; on 4 March 2015 the registered pledge was registered in the register of pledges kept by the District Court for Wrocław-Fabryczna in Wrocław; (ii) the Issuer’s submission to enforcement up to PLN 45 million in accordance with the procedure laid down in Article 777 of the code of civil procedure;
- the value of liabilities as at the last day of the quarter preceding the submission of the purchase bid: PLN 62.6 million (financial liabilities minus provisions);
- outlook for the liabilities until complete redemption: PLN 52 million (including Bond liabilities excluding provisions);
- data enabling potential bonds buyers to understand the results of the project to be financed by the bond issue: all the significant issues regarding the Issuer’s position shall be published in accordance with the procedure and in line with the principles given in the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies of 29 July 2005.
- the Issuer’s ability to meet the obligations arising from the bonds: The Issuer has full capacity to pay its obligations under the issued series J bonds,
- valuation of the subject of the pledge was made by a chartered valuer Bożena Pustelnik licence No. 3298 in accordance with Article 10(2) of the Bonds Act, as at 28 January 2015, the value of the collateral has been estimated at PLN 75,007,703.45.
The above bonds are not convertible into shares and have not been issued as senior bonds.



Legal basis Article 5(1)(11) of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic disclosures to be made by issuers of securities and on conditions for recognition as equivalent of the information whose disclosure is required under the law of a state which is not a member state (Dz. U. No. 33 of 28 February 2009, item 259, as amended).



Signatures of authorised representatives of the company:
Jacek Longin Daroszewski - President of the Management Board
Jacek Zbigniew Krzemiński - Vice President of the Management Board
 

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