GEN-I, d.o.o. announces that it has successfully completed the sale of money-market instruments - one-year commercial papers labelled GEN02 in total nominal value of EUR 35 million.The interest rate of the issued GEN02 commercial paper amounts to 3.8% per annum which makes it 0.5 percentage point lower than last year's GEN01 issuance.
The purpose of issuance of commercial papers was current short-term financing of the issuer and diversifying the base of short-term debt investors.
Issuance of commercial papers was highly rated by investors as the company received binding offers worth more than EUR 50 million from investors. Due to excessive interest in respect to the original planned scope of the issuance and the competitive conditions, GEN-I, d.o.o. decided to increase the scope of borrowing by another EUR 5 million to a sum of EUR 35 million.
The entire issuance comprises of 35,000 denominations at EUR 1,000 paid in by 53 investors. Freely transferable commercial papers will be issued in the central register KDD – Centralna Klirinška Depotna Družba with denomination GEN02 and ISIN SI0032500785. The commercial papers will be traded on a regulated market of Ljubljanska borza vrednostnih papirjev, d.d., Ljubljana, namely in the segment Trg obveznic (Bond Market) − Instrumenti denarnega trga (Money-Market Instruments) − Komercialni zapisi (Commercial Papers).
Commercial paper is a discount security, which means that the interest is accrued in advance and upon payment of commercial paper deducted as a discount on the nominal value of the commercial paper. Interest shall be calculated using simple interest formula and decursive remuneration taking into account the actual number of days to maturity and 360 days per year. Interest is rounded to two decimal places and shall be charged for the interest period commencing on 10 February, 2014 and ending on the date of maturity of commercial paper on 9 February, 2015. In accordance with the above there is no payment of interest; obligations arising from commercial paper are paid at maturity on 9 February, 2015 in the amount of the nominal value of a commercial paper.
Commercial papers were issued within the public tender procedure where there is no need to apply the rules on the publication of a prospectus and other rules relating to the offer of securities to the public as prescribed by ZTFI, Chapter 2.
In the name of the issuer, NLB d.d. provided all the services and activities of organization and underwriting of commercial papers, issuance of commercial papers by way of book-entry into the central registry of KDD, and classification of commercial papers in the organized market.
The information contained in this announcement will be available on the GEN-I, d.o.o. website, http://www.gen-i.si/, for at least 5 years from the date of publication.
GEN-I, d.o.o. Management Board
Date: 10 February, 2014