| | POLISH FINANCIAL SUPERVISION AUTHORITY | |
| | | | | UNI - EN REPORT No | 11 | / | 2014 | | | |
| | Date of issue: | 2014-10-15 | | | | | | | | |
| | Short name of the issuer | | | | | | | |
| | INDUSTRIAL MILK COMPANY S.A. | |
| | Subject | | | | | | | | | | |
| | Decision on the placement of bonds of series D and E | |
| | Official market - legal basis | | | | | | |
| | Art. 56 ust. 1 pkt 1 Ustawy o ofercie - informacje poufne
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| | Unofficial market - legal basis | | | | | |
| | Contents of the report: | | | | | | | | |
| | The Board of Directors of Industrial Milk Company S.A. hereinafter the Company informs that the Board of Directors of the Company has made a decision to place bonds by a Subsidiary of the Company – Burat-Agro LLC to the amount of UAH 140 mln (equivalent to USD 9.5 mln) with the following details:
- series D - UAH 75 mln, maturity December 2015
- series E - UAH 65 mln, maturity December 2016
It is planned to use proceeds from bonds of series D and E in December 2014 in the following way:
1) Partial redemption of current bonds of series B to the amount of USD 4.5 mln. Total amount of bonds of series B is USD 9 mln, maturity - 24 December 2014. The rest amount of bonds of series B will be redeemed using own funds of the Company in accordance with the maturity date.
2) Full redemption of current bonds of series C to the amount of USD 5 mln. Total amount of bonds of series C is USD 5 mln, maturity - 23 December 2015.
The actual implementation of the decision on the placement of bonds of series D and E will be announced later.
The refinancing of the bonds is planned pursuant to the strategy of the Company on the debt portfolio optimization.
In general, the Company strictly follows the plan of debt repayment in 2014. During the first 9 months of 2014 the Company has repaid debt to the amount of USD 27.097 mln, including USD 11 mln of bonds of series A. In the fourth quarter of 2014 the Company has planned to repay debts to the amount of USD 7.88 mln, including USD 4.5 mln of bonds of series B. Overall, in 2014 the Company has planned to repay debts to the amount of USD 34.977 mln.
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| | Annexes | | | | | | | | | | |
| | File | Description | |
