Information on the Pari Passu Redemption Offer relating to the Series 1/2018 Bonds
(Current Report No. 38/2023)
Article 17 sec. 1 MAR - confidential information
With reference to Current Report No. 32/2023 dated May 31, 2023 (Information on partial additional reduction of credit debt), CCC S.A., headquartered in Polkowice (the "Issuer"), hereby announces the occurrence of the event described in par. 17(f) of the "Terms and Conditions of Issuance of Bonds Recorded for Transfer to the Depository of the National Depository for Securities, drawn up in Polkowice on June 21, 2018" (the "Terms and Conditions of Issuance"), relating to the Series 1/2018 Bonds (the "Bonds"), in the form of:
a) Reductions in credit limits for revolving loans (including overdrafts),
b) repayment of term loan principal and
c) The irreversible nature of the aforementioned events,
collectively referred to as the "Event", which is the basis for offering Bondholders an early redemption of the Bonds in the event of a reduction in credit financing in accordance with par. 13.3 of the Terms of Issue.
As a result of the Event, the total reduction in credit financing paid or made available to CCC S.A. Group entities. (CCC S.A. together with its subsidiaries, excluding Modivo S.A. and its subsidiaries - the "Group") amounted to PLN 50,500,000 (Net Reduction Amount - NSB). This amount consisted of:
a) the amount of reduction of credit limits on revolving loans made available to Group entities in the amount of PLN 50,000,000,
b) the amount of repaid principal of the term loan made available to Group entities in the amount of PLN 500,000.
In connection with the Event, the Issuer reports that the total amount of term loans and revolving credit limits (including overdrafts) disbursed or made available to Group entities before the Event was PLN 1,189,857,625.58 (BWB) and consisted of:
a) principal amount of term loans disbursed to Group entities in the amount of PLN 342,601,000;
b) the amount of credit limits made available to Group entities in the amount of PLN 847,256,625.58.
In connection with the occurrence of the Event, acting pursuant to para. 13.3 of the Terms and Conditions of Issue, the Issuer announces a voluntary early redemption of Bonds with a maximum aggregate par value of PLN 8,898,000 (the "Pari Passu Redemption"). The maximum number of Bonds subject to the Pari Passu Redemption is 8,898 units. Bonds. The par value of the Bonds subject to Pari Passu Redemption was determined in accordance with the formula contained in para. 13.3 of the Terms and Conditions of Issuance, i.e. KW=(KON/BWB)*EO, where KW - means the Pari Passu Redemption Amount (rounded down), KON - means the Net Reduction Amount, BWB means the sum of the principal of term loans disbursed to Group entities before the Event and the amount of credit limits made available to Group entities before the occurrence of the Event, EO - the total par value of the Bonds.
In connection with the announcement of the Pari Passu Redemption, Bondholders who are interested in voluntarily redeeming their Bonds are invited to submit a request for redemption of the Bonds (the "Redemption Request (Pari Passu Redemption)") within the period from July 4, 2023 (the first day of acceptance of the Redemption Request (Pari Passu Redemption)) to August 2, 2023 (the last day of acceptance of the Redemption Request (Pari Passu Redemption)).
The Redemption Request (Pari Passu Redemption) should be submitted to the investment firm (direct participant of the National Securities Depository S.A.) that maintains the investment account in which the Bonds are recorded.
The Issuer shall redeem the Bonds presented for redemption by the Bondholders proportionally the number of Bonds covered by the Redemption Requests (Pari Passu Redemption), in accordance with the rules (including reduction) set forth in the regulations of K of the National Securities Depository. The Pari Passu Redemption will take place on August 10, 2023. - within 6 business days from the end of the deadline for acceptance of the Redemption Request (Pari Passu). Along with the Pari Passu Redemption, the Issuer will repay the Interest accrued on the Bonds subject to Pari Passu Redemption up to (but excluding) the Pari Passu Redemption Date.