Resolution of the Management Board of Ciech SA on an issue of 01 and 02 series bonds denominated in the Polish zloty and on approving the terms and conditions of the bond issue...
Current report no : 55/2012
Report date : 11/21/2012
Abbreviated name : Ciech SA
Subject : Resolution of the Management Board of Ciech SA on an issue of 01 and 02 series bonds denominated in the Polish zloty and on approving the terms and conditions of the bond issue...
Legal basis : Article 56 section 1 item 1 of the Act on the Offering – confidential information. Resolution of the Management Board of Ciech SA...
Report :
Legal basis: Article 56 section 1 item 1 of the Act on the Offering – confidential information. Resolution of the Management Board of Ciech SA on an issue of 01 and 02 series bonds denominated in the Polish zloty and on approving the terms and conditions of the bond issue – the end of book building for the bonds of Ciech SA.
Resolution of the Management Board of Ciech SA on an issue of 01 and 02 series bonds denominated in the Polish zloty and on approving the terms and conditions of the bond issue – the end of book building for the bonds of Ciech SA and (ii) Resolution of the Management Board of Ciech SA on the issue of bonds denominated in the euro as well as approving the terms and conditions of the bond issue – the end of the process of offering bonds of Ciech Group Financing AB (publ), a subsidiary of Ciech SA.
- Resolution of the Management Board of Ciech SA on an issue of 01 and 02 series bonds denominated in the Polish zloty and on approving the terms and conditions of the bond issue – the end of book building for the bonds of Ciech SA
The Management Board of Ciech SA, acting pursuant to Article 56 section 1 item 1 of the Act of July 29th, 2005 on Public Offering and the Conditions for Introducing Financial Instruments to Organised Trading and on Public Companies ("Act on the Offering"), reports that on November 21st, 2012 the Management Board adopted a resolution on an issue by Ciech SA of secured bearer bonds governed by the law of Poland, denominated in the Polish zloty, of 01 series with an option of an early buyout by Ciech SA of the bonds of this series prior to the maturity date thereof, after 18 or 42 months from the issue date ("Purchase Option"), and 02 series bonds without an option of an early buyout by Ciech SA, with the maturity date in December 2017 ("Polish Bonds") and on ending the book building for the Polish Bonds.
On November 21st, 2012 the book building for the Polish Bonds was finalised (for information about the beginning of the book building, see current report no. 51/2012). Having regard to the end of the book building for the Polish Bonds, the total value of the issue of Polish Bonds series 01 and series 02 has been determined at PLN 320,000,000 with a floating interest rate calculated on the basis of the WIBOR 6M rate plus a margin not bigger than 500 basis points.
The Polish Bonds will be issued provided that proposals to purchase the Polish Bonds are accepted by the investors that declared an interest in purchasing the Polish Bonds during the book building process and that the Polish Bonds are settled in the National Depository for Securities.
- Resolution of the Management Board of Ciech SA on the issue of bonds denominated in the euro and on approving the terms and conditions of the bond issue – the end of the process of offering bonds of Ciech Group Financing AB (publ), a subsidiary of Ciech SA
The Management Board of Ciech SA, acting pursuant to Article 56 section 1 item 1 of the Act of July 29th, 2005 on Public Offering and the Conditions for Introducing Financial Instruments to Organised Trading and on Public Companies ("Act on the Offering"), reports that on November 21st, 2012 the Management Board adopted a resolution on an issue by the special-purpose vehicle Ciech Group Financing AB (publ) ("Issuer of Foreign Bonds"), a wholly-owned subsidiary of Ciech SA, of secured bearer bonds governed by the state of New York denominated in the euro with the maturity date in 2019 ("Foreign Bonds") and on ending the process of offering Foreign Bonds.
On November 21st, 2012 the process of offering Foreign Bonds was ended (for information about the beginning of the offering, see current report no. 51/2012). Having regard to the end of the process of offering Foreign Bonds, the final value of the issue of Foreign Bonds has been determined at EUR 245,000,000, with a fixed interest rate of 950 basis points.
Foreign Bonds will be issued provided that the terms and conditions resulting from the Purchase Agreement concluded on November 21st, 2012 by the Issuer of Foreign Bonds, Ciech SA, Credit Suisse Securities (Europe) Limited and Barclays Bank PLC (on which Ciech SA will report in a separate report) are fulfilled and that Foreign Bonds are settled.
Signatures of the Company's representatives : Andrzej Kopeć – Member of the Management Board
Signatures of the Company’s Representatives : Artur Osuchowski – Member of the Management Board
