- This is another tranche of bonds repaid this year – in total, in 2019 MCI repaid PLN 75.1 million to bondholders.
- The maturing M series bonds (MCI1219) have been covered by the institutional investors, and their interest rate is WIBOR.6M + 3.9% with a six-month coupon.
Ewa Ogryczak, CFO MCI Capital S.A: Our company has been present on the bond market for several years. We are pleased that during this time, we can count on the trust of the bondholders invariably. This is our most important and stable source of funding. We are currently working on the diversification of financing sources – our target structure in the context of financing MCI and the funds in which we are an investor would be one in which 50% of the debt comes from the foreign investors and 50% from the domestic investors, based on banking and bond products. We are intensifying activities whose aim is to reach a wider range of bondholders, extend tenor and reduce financing costs, as well as build a systemic, repeatable process of bond debt issuance in Poland and abroad. We are working on several projects and assume the materialization, at least some of them in 2020. The debt handling schedule will be consistent with the needs and generated financial flows.
After the repayment of series M bonds, the total debt of MCI amounts to PLN 171 million (of which PLN 102 million are liabilities related to the issue of series N, O and P bonds), and the level of net debt to assets amounts to 12%, which constitutes a record low level.
The total equity of MCI Capital amounts to PLN 1.2 billion (at the end of Q3’19) and the net assets of MCI.PrivateVentures FIZ and MCI.CreditVentures FIZ amount to PLN 1.8 billion and PLN 305 million respectively.