Legal basis:
Article 56.1.2 of the Act on Public Offering – current and periodical information
The management board of PHN (the "Issuer") announces that on January 30,2015, Issuer's subsidiaries: PHN SPV 11 Sp. z o.o. ("PHN SPV 11"), based in Warsaw, PHN SPV 13 Sp. z o.o. ("PHN SPV 13"), based in Warsaw and PHN SPV 14 Sp. z o.o. ("PHN SPV 14"), based in Warsaw, issued long-term registered bonds that were acquired by another Issuer's subsidiary PHN 4 Spółka z ograniczoną odpowiedzialnością S.K.A. ("PHN 4 S.K.A.), based in Warsaw. The issue was a part of the Company's restructuring plan. The proceeds of the issue will finance the purchase of properties by PHN SPV 11, PHN SPV 13 and PHN SPV 14 from PHN 4 S.K.A.
The total value of issued bonds is PLN 244.9 million, including (1) PLN 32.2 million by PHN SPV 11, (2) PLN 74.2 million by PHN SPV 13 and (3) PLN 138.5 million by PHN SPV 14. PHN SPV 11's bonds were issued in 2 series: (1) 32 bonds of BA series with a value of PLN 1.0 million each and (2) 2 bonds of BB series with a value of PLN 0.1 million each. PHN SPV 13's bonds were issued in 2 series: (1) 74 bonds of A series with a value of PLN 1.0 million each and (2) 2 bonds of B series with a value of PLN 0.1 million each. PHN SPV 14's bonds were issued in 3 series: (1) 2 bonds of A series with a value of PLN 10.0 million each, (2) 100 bonds of B series with a value of PLN 1.0 million each, (3) 37 bonds of C series with a value of PLN 0.5 million each.
The bonds' issue prices in each series are equal to their nominal value. The bonds are unsecured and may be acquired and sold only by the Issuer and its subsidiaries or affiliates. The bonds are issued for a period of 10 years, with the possibility of early redemption in whole or in part. Interests will be paid in 6-month tranches, with the possibility of prolonging their payment until the redemption date at the latest. The bonds' interest rate is variable (WIBOR 6M + margin) and dependent on the date of interest payment.
As at December 31, 2014 (on the last day of the quarter preceding the offering date), the value of (1) PHN SPV 11's liabilities was estimated at PLN 328.7 million, (2) PHN SPV 13's liabilities was estimated at PLN 74.1 million and (3) PHN SPV 14's at PLN 0 million.
Legal basis:
Article 5.11 in relation with Article 17 of the Regulation of Minister of Finance of February 19, 2009 on current and periodical information published by issuers of securities and the conditions of recognizing information required by the regulations of non-member states as equivalent (Journal of Laws 2009 No. 33, item 259, as amended).
Signatures of the Company’s representatives:
Artur Lebiedziński – President of the Management Board
Włodzimierz Stasiak – Member of the Management Board for Finance
