Non-public issue of bonds convertible to shares of MCI Management SA completed successfully

11.09.2009 Download PDF

The non-public issue of bonds convertible to shares of MCI Management SA has been completed successfully. Due to high demand, surpassing supply, orders had to be reduced.

The issue was indented mainly for institutional investors. Three-year bonds convertible to shares were offered. The size of the issue was 5000 pcs, worth a total PLN 50M.
“We are very happy with the results of the issuing, especially so, that the bondholders who received the bonds included several funds (investment and open pension funds). The great interest in our bonds is also proof of what demanding financial investors are seeking today. The convertible bond is a hybrid; encompassing the features of a debenture, yielding fixed interest, and due to the option to convert to shares the features of a security. I hope that having converted to shares the present bondholders will become future shareholders of MCI. We shall make every effort in order for them to find the returns on this investment highly satisfying.” – said Beata Stelmach, Member of the Board of MCI Management SA.

Selected parameters of the bonds:
• bearer bonds, convertible to shares, 3-year, maturity on 10 September 2012 (if right to convert to shares was not used);
• conversion price 6.25 PLN
• MCI holds the right to call for early redemption, however not earlier than after 11 September 2011, and provided that even once MCI stock price on WSE exceeds conversion price by 50%
• interest paid semi-annually: on 12 March and 10 September 2010, 11 March and 9 September 2011, 9 March and 10 September 2012
• the Board of MCI will take actions to introduce the bonds to be traded on the secondary alternative trading market
• Raiffeisen Bank Polska is the issuing agent

11.09.2009 Download PDF