The Management Board of Cyfrowy Polsat S.A. (the "Company") hereby informs that on October 30, 2019 it adopted a resolution on taking initial steps in connection with potential acquisition of additional debt financing. The Company’s intent is to assess possibilities of acquiring financing in form of an additional tranche of loan under the Second Amendment and Restatement Deed on which the Company reported in its Current Report No. 9/2018 dated March 2, 2018, denominated in PLN, in the amount of up to PLN 1,000,000,000.00 (one billion zloty) (the “New Loan”), or the issuance of bonds, denominated in PLN, in the nominal value of up to PLN 1,000,000,000.00 (one billion zloty) (the “New Bonds”). The Company contemplates the acquisition of both or one of the above mentioned sources of financing depending on market conditions and further decisions of the Management Board.
The actions initiated by the Company on October 30, 2019 shall be aimed at evaluating the possible financial and contractual conditions concerning the acquisition of the New Loan as well as evaluating the present market demand for the New Bonds and proposing potential conditions and a timetable of issuance of the New Bonds that would enable the Management Board to take a decision whether to obtain financing in form of the New Loan or the establishment of a program of issuance of bonds under which the New Bonds would have been issued (the “Program”). The Company’s intent is to acquire financing in form of the New Loan or the issuance of the New Bonds under the Program by the end of the first quarter of 2020, subject to a possibility of obtaining desired financial and contractual conditions concerning the acquisition of the New Loan or the occurrence of suitable conditions on debt securities market.
The final decision concerning the acquisition of financing in form of the New Loan or the establishment of the Program and its terms shall be taken at the stage of adopting a relevant resolution by the Company’s Management Board, about which the Company shall inform in a separate current report.
Legal basis: Article 17 Section 1 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.