Information on the Pari Passu Redemption Offer relating to the Series 1/2018 Bonds
(Current report no. 4/2024)
12.02.2024 /Issuer/
Legal basis:
Article 17 sec. 1 MAR - confidential information
With reference to Current Report No. 60/2023 of 30 November 2023 (Information on partial additional reduction of credit debt), CCC S.A. based in Polkowice ("Issuer") announces about the occurrence of the event described in par. 17(f) of the "Terms and conditions of issue of bonds registered in the records with the possibility of transfer to the deposit of the NDS, drawn up in Polkowice on 21 June 2018" (the "Terms and conditions of issue"), concerning the Bonds Series 1/2018 (the "Bonds"), in the form of a reduction of credit limits concerning revolving credits (including overdrafts) and the expiry of a 60-day period from the date of such reduction, during which the reduced credit limit has not been increased, or a new limit has not been granted in the amount of the reduction, collectively referred to as the "Event". An Event is the basis for offering Bondholders an early redemption of the Bonds in the event of a reduction in credit financing in accordance with para. 13.3 of the Terms of Issue.
As a result of the Event, the total reduction in credit financing paid or made available to the entities of the CCC S.A. Capital Group (CCC S.A. together with its subsidiaries, excluding Modivo S.A. and its subsidiaries - the "Group") amounted to PLN 114,929,064.96 (the Net Reduction Amount - the "NSB"), which consisted entirely of the amount of reduction of credit limits for revolving credits and overdrafts made available to the Group entities.
In connection with the Event, the Issuer announces that the total amount of term loans and credit limits relating to revolving loans (including overdrafts) paid or made available to Group entities before the occurrence of the Event was PLN 1,058,176,112.58 (BWB) and consisted of:
a) the principal amount of term loans disbursed to Group entities of PLN 314,267,469.00;
b) the amount of credit limits made available to Group entities in the amount of PLN 743,908,643.58.
In connection with the occurrence of the Event, acting pursuant to para. 13.3 of the Terms and Conditions of Issue, the Issuer announces a voluntary early redemption of Bonds with a maximum aggregate nominal value of PLN 20,565,000.00 (the "Pari Passu Redemption"). The maximum number of Bonds subject to the Pari Passu Redemption is 20,565 Bonds. Bonds. The nominal value of the Bonds subject to Pari Passu Redemption was determined in accordance with the formula contained in para. 13.3 of the Terms and Conditions of Issue, i.e. KW=(KON/BWB)*EO, where KW - means the Pari Passu Redemption Amount (rounded down), KON - means the Net Reduction Amount, BWB means the sum of the principal of term loans disbursed to Group entities before the Event and the amount of credit limits made available to Group entities before the occurrence of the Event, EO - the total nominal value of the Bonds.
In connection with the announcement of the Pari Passu Redemption, Bondholders who are interested in the voluntary redemption of their Bonds are invited to submit a request for redemption of their Bonds (the "Redemption Request (Pari Passu Redemption)") between 13 February 2024 (the first day of acceptance of the Redemption Request (Pari Passu Redemption)) and 13 March 2024 (the last day of acceptance of the Redemption Request (Pari Passu Redemption)).
The Redemption Request (Pari Passu Redemption) should be submitted to the investment firm (direct participant of the National Securities Depository S.A.) that maintains the investment account in which the Bonds are recorded.
The Issuer shall redeem the Bonds presented for redemption by the Bondholders proportionally the number of Bonds covered by the Redemption Requests (Pari Passu Redemption), in accordance with the rules (including reduction rules) set out in the regulations of the National Securities Depository S.A.. The Pari Passu Redemption will take place on 21 March 2024. - within 6 business days after the end of the period for acceptance of the Redemption Request (Pari Passu). Together with the Pari Passu Redemption, the Issuer will repay the Interest accrued on the Bonds subject to the Pari Passu Redemption up to (but excluding) the Pari Passu Redemption Date.