Issuance of Series A Bonds by CCC Shoes & Bags sp. z o.o.
(Current Report no. 62/2021)
Legal basis: Article 17 sec. 1 MAR - confidential information
The Management Board of CCC S.A. with its registered office in Polkowice ("CCC"), referring to the content of the current report No. 58/2021 of 9th September 2021, announces that CCC Shoes & Bags sp. z o.o. with its registered office ("CCC S&B"), a subsidiary of CCC, on 22 September 2021 issued 360 A-series bonds with a nominal value of PLN 1,000,000 (one million zlotys) each and the aggregate nominal value of PLN 360,000,000 (three hundred and sixty million zlotys) ("Bonds"). The Bonds were subscribed by NDF Investments Closed Investment Fund /PFR Inwestycje Fundusz Inwestycyjny Zamknięty/ ("Investor") in full, at the issue price equal to the nominal value of the subscribed Bonds. The Investor paid the first instalment of the issue price to CCC S&B in the amount of PLN 170,000,000 (one hundred and seventy million zlotys) by wire transfer to the account of CCC S&B, while the second instalment of the issue price in the amount of PLN 190,000,000 (one hundred and ninety million zlotys) was transferred by the Investor to the escrow account and will be released to CCC S&B upon the fulfilment of the conditions specified in the issue documents. The Bonds bear interest at a variable interest rate consisting of: (i) semi-annual interest at a fixed rate, subject to increase on the terms set out in the Bond Issue Documents; and (ii) deferred interest at a rate equal to the sum of the base rate being WIBOR 3m and a margin. Notwithstanding the above, upon the redemption of the Bonds by CCC S&B, Investor will be entitled to an additional payment depending on the increase in the value of shares in eObuwie.pl S.A. ("eObuwie").
The Investor's receivables under the Bonds and other documents related to the issue of the Bonds are or will be secured by (i) surety by CCC, (ii) ordinary and registered pledges on the shares in eObuwie in the total number of 1,440.000 shares, (iii) ordinary pledges and registered pledge on claims under the agreement for maintaining a bank account for CCC S&B dedicated to the payment of a portion of dividends by eObuwie, attributable to the shares pledged as collateral for claims under the Bonds and other issue documents (which are required to be credited to the repayment or prepayment of interest on the Bonds), (iv) subordination of selected financial indebtedness of CCC S&B to CCC.eu sp. z o.o. (including on account of the unsecured loan granted to CCC S&B by that entity), and (v) the statements on submission to execution made by CCC S&B (as the issuer of the Bonds) and CCC (as the guarantor).
The Investor will have the right to demand early redemption of the Bonds in cases specified in the terms of issue of the Bonds. CCC S&B will have the right to make an early redemption of the Bonds subject to the payment of the relevant commission as set out in the terms of issue of the Bonds. In the absence of an early redemption, the Bonds will be redeemed on 22 September 2028.
The Bonds were issued pursuant to Article 33(2) of the Bond Act of 15 January 2015. The Bonds will not be introduced to trading on a regulated market.