BBI bond issue worth PLN 53 mln

The funds raised will be used to buy back bonds with a redemption date that falls due this month as well as to finance the company’s operations. The new unsecured bonds are to be redeemed on February 7th 2017. The interest rate, which is to be paid twice yearly, is to be based on the WIBOR 6M together with a margin for the investor (to be established separately for each half year). The first interest payment will fall due on August 7th this year. At the end of 2013, BBI had liabilities of over PLN 110 mln, which it intends to reduce to around PLN 70 mln after the redemption of the current issue in 2017. The bonds are to be traded on the Catalyst market of the Warsaw Stock Exchange. The issue has been organised with Raiffeisen Bank Polska.