Current reports

2016
Number Publication date Subject
RB 4/2016 2016-01-14 Issue of series M bonds

The Management Board of Fast Finance S.A. with its registered office in Wrocław (”the Issuer”) hereby informs that on 14 January 2016 it passed a resolution to allot 9,319 (nine thousand three hundred and nineteen) M series ordinary coupon secured bearer bonds, with a nominal value of PLN 1,000 (one thousand Polish zloty) each, with a total value of PLN 9,319,000 (nine million three hundred and nineteen thousand Polish zloty). The series M bonds were offered in accordance with the procedure laid down in Article 33(2) of the Bonds Act (private placement).

 

The bonds were issued with the following issue terms:

- issue purpose: to refinance the monetary obligations under the bonds issued by the Company and to raise funds for the operating activity relating to purchasing on the Issuer’s own account or via Fast Finance NS FIZ of debt portfolios, their servicing and management;

- issue size: PLN 9,319,000;

- nominal value and issue price of a single bond: PLN 1,000;

- redemption terms: bonds redemption date shall be 15 January 2021. The bonds will be amortised. In each coupon period (quarterly) the periodical amortisation shall be 5% of the total number of bonds issued;

- coupon terms: fixed coupon rate of 10.5% p.a., quarterly coupon periods;
- security: (i) the bonds are secured by a registered pledge created by the Company in favour of the Bondholders not mentioned by name, over the monetary receivables under defaulted loans purchased by the Company from:
a) Santander Consumer Bank S.A. with its registered office in Wrocław – agreement of 30 Sept. 2008
b) Euro Bank S.A. with its registered office in Wrocław – agreement of 18 Feb. 2009
a) Santander Consumer Bank S.A. with its registered office in Wrocław – agreement of 30 March 2009
b) Euro Bank S.A. with its registered office in Wrocław – agreement of 22 Nov. 2010
e) Bank BPH S.A. Grupa GE Capital with its registered office in Cracow – agreement of 12 July 2012
f) Euro Bank S.A. with its registered office in Wrocław – agreement of 14 Dec. 2012, registered pledge was registered on 31 December 2015 in the register of pledges maintained by the District Court for Wrocław-Fabryczna in Wrocław;
g)
- the value of liabilities as at the last date of the quarter preceding the purchase offer: PLN 53.5m (financial obligations excluding provisions);

- outlook for the liabilities until complete redemption: PLN 35m (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 is fully able to service its liabilities under the M series bonds issued,

- valuation of the subject of the pledge was made according to Article 30(1) of the Bonds Act by the audit firm Biegli Rewidenci Wilk, Grecki, Stopczyńska i Partnerzy, ul. Zamkowa 23, 98-200 Pabianice (Statutory auditor No. 3354). The audit was conducted by Ms.Bożena Pustelnik license No. 3298. The subject of the pledge was valued at PLN 30,000,572.02 as at 24 November 2015.

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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