Lokum Deweloper has allocated 100,000 three-year series H bonds with a total nominal value of PLN 100 million, the company said. The issue date will be March 5, 2021. The purpose of the bond issue is to pay off liabilities, in particular those resulting from the previously issued series E bonds.
“The bonds are not secured and will not have the form of a document. The interest rate on the bonds is variable, based on the WIBOR 6M rate increased by a margin of 4.5%, unless it changes in accordance with the terms of the issue. The coupon for each bond is calculated from day of issue (excluding that day), separately for each 6-month interest period and will be paid on the day of interest payment “, the company stated in an annoucement.
The bond redemption date is September 5, 2024 and the bonds will be the subject of applying for admission to trading in the alternative trading system on the Catalyst market, it was also stated.
In the terms of the Lokum Deweloper bond issue, they undertook that the dividend paid for the financial year will not exceed 50% of the consolidated net profit, and not to make any payments due to the reduction of the share capital, redemption of shares or acquisition of the issuer’s own shares. The company also undertook to purchase for redemption or redemption (including early redemption) of all issued series E bonds by March 31, 2021.
“At the same time, the company informs that on March 3, 2021, it concluded a purchase transaction for redemption of 12,000 series E bonds, with a nominal value of PLN 1,000 each and a total nominal value of PLN 12,000,000. The company will take all necessary steps to redeem of the above-mentioned series E bonds, and after their redemption, 88,000 series E bonds with a nominal value of PLN 1,000 each and a total nominal value of 88,000,000 will remain for redemption “, it further announced.
Lokum Deweloper is a residential developer from Wrocław, also operating on the Kraków market. In 2015, the company made its debut on the WSE main market.
Source: ISBnews and Lokum Zakrzów photo
