The issue of bonds has competed successfully; capital raised from the bonds is intended for new investments. DM BZ WBK raised its recommendation for MCI from âholdâ to âbuyâ.
The issue was executed via a public offering, targeted at primarily institutional investors and wealthy individual investors, who are seeking stable debentures.
The issued bonds have a three-year maturity with variable coupon rate. More than 35.000 bonds were issued with a total value 35 million PLN. These bonds will be traded on the secondary markets, Catalyst and BondSpot.
“We are very happy about the results of the issue, especially that the group of bondholders who were allotted the bonds includes a sizable group of investment and pension funds. Such interest in our bonds also proves what demanding stock exchange investors are currently looking for. Corporate bonds, delivering regular yields, are an additional instrument allowing for greater diversification. What pleases me the most is that by delivering debentures we are helping to draw attention to this segment of the market, and in the long run, to increase the liquidity on this market.” â said Tomasz Czechowicz, CEO of MCI Management SA.
Selected parameters of the bonds:
– Bearer bonds, three-year, maturity on 31 March 2014;
– Variable coupon rate, based on 6M WIBOR plus 400 point margin; interest paid semiannually;
– The bonds are deposited in the National Securities Depository.
RECOMMENDATION âBUYâ FROM DM BZ WBK
The report of DM BZ WBK again is a confirmation that the adopted management at investment policy is beneficial for both MCI and its Shareholders and Investors. MCIâs shares were valuated at 10.30 PLN. The full report, published on March 25th, is available online at and MCI Management SA (http://www.mci.pl/wza/8_en.pdf).