The Management Board of LC Corp S.A. (“the Issuer” or “the Company”) informs that on 22 May 2019 it issued 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 60,000,000 (“the 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 bonds were issued on the following conditions:
1. Issue date – 22 May 2019
2. Redemption date – 22 May 2023
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 60,000,000 (say: sixty million Polish Zlotys 00/100)
6. The number of Bonds of the same Series – 60,000 bonds
The value of liabilities assumed by the Issuer as at the last day of the quarter falling not earlier than four months before the date of making the purchase proposal available (i.e. 31 March 2019) amounted to PLN 658,501,000 (say: six hundred fifty-eight million five hundred and one thousand Polish Zlotys), including overdue liabilities of PLN 4,000.00 (say: four thousand Polish Zlotys). In the consolidated view, liabilities as at 31 March 2019 was PLN 1,925,631,000 (say: one billion nine hundred twenty-five million six hundred and thirty-one thousand Polish Zlotys), including overdue liabilities of PLN 12,519,000 (say: twelve million five hundred and nineteen thousand Polish Zlotys).
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.