Amendment to the Terms and Conditions of Issue of the Series 1/2018 Bonds and other resolutions adopted by the Bondholders' Meeting on October 24, 2022. Issuer's statement on approval of amendments to the Terms and Conditions of Issuance of the Series 1/2018 Bonds adopted by the Bondholders' Meeting on October 24, 2022.
(Current Report No. 32/2022)
24.10.2022 /Issuer/
Legal basis:
Article 17 (1) MAR - confidential information
The Management Board of CCC S.A. based in Polkowice (hereinafter: "Issuer") informs that on October 24, 2022, the Meeting of Bondholders passed resolutions on amending the "Terms and Conditions of Issuance of Registered Bonds with the possibility of transfer to the NDS depository, drawn up in Polkowice on June 21, 2018" (hereinafter "Terms and Conditions of Issuance"), concerning the Series 1/2018 Bonds (hereinafter "Bonds").
The Terms of Issue were amended with respect to:
1) the conditions for the examination of the Financial Indicators set forth in the Terms of Issue;
2) addition of new disclosure obligations to Bondholders and the collateral administrator;
3) granting Bondholders the right to early proportional redemption in the event of a reduction in credit financing (so-called Pari Passu Redemption).
Amendments to the Terms and Conditions of Issuance with respect to the Financial Ratios change the conditions for testing the Financial Ratios to the same extent as the changes established:
1) in the Term Sheet to the Loan Agreement entered into on June 2, 2021, referred to in Current Report No. 32/2021 dated June 2, 2021, which was agreed upon with the CCC Group's financing institutions. The Issuer announced the conclusion of this Term Sheet in Current Report No. 28/2022) dated October 19, 2022; and
2) in the Term Sheet to the Common Financing Terms Agreement entered into on November 5, 2020, as reported in Current Report No. 65/2020) dated November 5, 2020, which was agreed upon with the CCC Group's financing institutions. The Issuer reported on the conclusion of this Term Sheet in Current Report No. 27/2022) dated October 12, 2022.
The Issuer announces that in connection with the amendment of the Term Sheet, to the extent set forth in item 1) above, the Bondholders' Meeting passed Resolution No. 6 obligating the Issuer to pay a one-time bonus to each Bondholder. The Issuer announces that it will pay the bonus in accordance with the terms and conditions adopted by the Bondholders' Meeting in Resolution No. 6 of the Bondholders' Meeting of October 24, 2022.
The Issuer encloses:
1) the minutes with the resolutions adopted by the Bondholders' Meeting;
2) the consolidated text of the Terms of Issue taking into account the amendments to the Terms of Issue introduced by the Bondholders' Meeting on October 24, 2022.
At the same time, the Issuer makes public the Issuer's approval of the amendment to the Terms of Issue.