The Polish Financial Supervision Authority (KNF) has approved the issue prospectus for the program for issue of bonds of MCI.PrivateVentures FIZ (MCI.PV), the largest fund of the MCI Group, consisting of the MCI.TechVentures and MCI.EuroVentures sub-funds.
– MCI has been active on the Polish equity market since 2001 as an issuer of both stocks and bonds. Funds related to the MCI Group are well known to Polish investors for their issues of investment certificates and outstanding investing strategies focused on private equity investments in new technology sectors of the digital economy. A public issue of bonds is, on the one hand, a means of diversifying sources of financing and, on the other hand, an outreach towards the expectations of Polish investors who considered engagement in debentures of companies related to the MCI brand, said Mr. Wojciech Marcińczyk, Vice President of the Management Board of MCI Capital TFI S.A.
An issue of corporate bonds under the public offering scheme is a tool that Polish issuers choose to use more and more often.
Our bond issue program will be the first public program in the history of private equity funds in Poland. Without doubt, it is an interesting investing opportunity offering attractive rates of return, added Mr. Marcińczyk.
The MCI.PV fund is composed of two sub-funds. One of them is MCI.EuroVentures which invests its assets in medium-sized TMT, financial services, e-commerce, distribution, BPO and e‑infrastructure companies with established market positions or leading in their businesses, featuring better stability of ROI and less risky to invest in. The other sub-fund is MCI.TechVentures which focuses on investing in A-E and secondary rounds, ranked as leading digital economy players in Europe (including Russia) and in Turkey, expected to yield a 3-5x CoC return rate within a 5‑ to 7‑year horizon. The core investing areas of MCI.TechVentures include e-commerce, marketplaces and fintech.
The program for the public issue of MCI.PV bonds plans the total par value of the whole issue will not exceed PLN 200 million. All the partial issues will be offered within the 12-month term of validity of the basic issue prospectus approved by the Financial Supervision Authority.
The Issuer will define details of the bond issue program, including parameters of each bond series concerned.