PLN series D and E Bonds
Key information
| Issuer: | Cyfrowy Polsat S.A. | |
|---|---|---|
| Series/ISIN: | Series D and E PLCFRPT00070 (CPS0130) | |
| Stock Exchange: | Catalyst (ASO GPW) | |
| Nominal value: | 1,000 PLN | |
| Total number of bonds: | 3,490,000 | |
| First and last days of interest periods: |
11 January and 11 July |
|
| Interest: | variable | |
| WIBOR 6M + 335 bps | if leverage ratio ≤3.5x | |
| WIBOR 6M + 385 bps | if leverage ratio >3.5x and ≤4.5x | |
| WIBOR 6M + 435 bps | if leverage ratio >4.5x | |
| If the value of the Sustainability-Linked KPI for 2026 is lower than the SPT or the Issuer fails to provide a settlement of the SPT as part of the first Compliance Certificate made available after the end of 2026, the interest rate will be permanently increased by 25 bps | ||
| Maturity: | 11 January 2030 | |
| Sustainability-Linked KPI: | Share of electric energy produced from zero-emissions sources in the total electric energy usage for own needs of the four main operating companies of Polsat Plus Group (Cyfrowy Polsat, Telewizja Polsat, Polkomtel and Netia) | |
| Sustainability Performance Target (SPT): |
30% in 2026 |
|
| Method of offering bonds: | public offer to professional clients | |
| Purpose of the issuance: | not specified | |
| Security: | none | |
| Call Schedule: | Date: | Call price: |
| until 10 January 2024 | 103.00% | |
| from 11 January 2024 to 10 January 2025 | 101.50% | |
| from 11 January 2025 to 10 January 2026 | 100.75% | |
| from 11 January 2026 to 10 January 2027 | 100.50% | |
| from 11 January 2027 | 100.00% | |
| in each case increased by 0.25% p.a. for the period between the Early Redemption Date and the Redemption Date in the event that the SPT is not satisfied or the SPT settlement is not submitted as part of the first Compliance Certificate after the end of 2026, if the Early Redemption Date falls after the date on which the Compliance Certificate for 2026 was delivered or was to be delivered | ||
Documents related to the issue of series D and E Bonds
- Interest rate table (.PDF)
PLN series F Bonds
Key information
| Issuer: | Cyfrowy Polsat S.A. | |
|---|---|---|
| Series ISIN: | Series F PLO123800016 | |
| Stock Exchange: | Not applicable, bonds not introduced to trading | |
| Nominal value: | 1,000 PLN | |
| Total number of bonds: | 400,000 | |
| First and last days of interest periods: |
11 January and 11 July (excluding the first interest period beginning on 21 December 2023 and ending on 11 January 2024) |
|
| Interest: | variable. based on a specified margin + WIBOR 6M | |
| WIBOR 6M + 335 bps | if leverage ratio ≤3.5x | |
| WIBOR 6M + 385 bps | if leverage ratio >3.5x and ≤4.5x | |
| WIBOR 6M + 435 bps | if leverage ratio >4.5x | |
| If the value of the Sustainability-Linked KPI for 2026 is lower than the SPT or the Issuer fails to provide a settlement of the SPT as part of the first Compliance Certificate made available after the end of 2026, the interest rate will be permanently increased by 25 bps | ||
| Maturity: | 11 January 2030 | |
| Sustainability-Linked KPI: | Share of electric energy produced from zero-emissions sources in the total electric energy usage for own needs of the four main operating companies of Polsat Plus Group (Cyfrowy Polsat, Telewizja Polsat, Polkomtel and Netia) | |
| Sustainability Performance Target (SPT): |
30% in 2026 |
|
| Method of offering bonds: | private offer addressed to one investor | |
| Security: | none | |
| Call Schedule: | Date: | Call price: |
| until 10 January 2024 | 103.00% | |
| from 11 January 2024 to 10 January 2025 | 101.50% | |
| from 11 January 2025 to 10 January 2026 | 100.75% | |
| from 11 January 2026 to 10 January 2027 | 100.50% | |
| from 11 January 2027 | 100.00% | |
| in each case increased by 0.25% p.a. for the period between the Early Redemption Date and the Redemption Date in the event that the SPT is not satisfied or the SPT settlement is not submitted as part of the first Compliance Certificate after the end of 2026, if the Early Redemption Date falls after the date on which the Compliance Certificate for 2026 was delivered or was to be delivered | ||
Ratings
| corporate rating of the Group | latest review | |
|---|---|---|
| S&P Global Ratings | BB, stable | January 23, 2025 |
| Fitch Ratings | BB, stable | May 28, 2024 |
Analysts responsible for Cyfrowy Polsat's credit ratings:
Standard & Poors
Natalia Arrizabalaga
e-mail: natalia.arrizabalaga@spglobal.com
https://www.spglobal.com
Fitch Ratings
Rafał Kamiński
e-mail: rafal.kaminski@fitchratings.com
https://www.fitchratings.com
Projections of financial liabilities
Pursuant to Article 35(1a) and (1c) of the Bonds Act, the Company presents forecasts of the development of financial liabilities, including the estimated value of financial liabilities and the estimated financing structure, understood as the value and percentage share of liabilities from credit and loans, the issue of debt securities, and leasing in the total liabilities of Cyfrowy Polsat S.A. and Cyfrowy Polsat S.A. Capital Group.
|
31 December 2024 *forecast from December 2023 |
31 December 2025 *forecast from December 2024 |
|
| Cyfrowy Polsat S.A. | ||
| Estimated value of financial liabilities (from credit and loans, issue of debt securities, and leasing) | PLN 6,3 billion | PLN 6,2 billion |
|
Percentage share in total liabilities |
33% | 31% |
| Cyfrowy Polsat S.A. Capital Group | ||
| Estimated value of financial liabilities (from credit and loans, issue of debt securities, and leasing) | PLN 16,9 billion | PLN 14,5 billion |
| Percentage share in total liabilities | 45% | 40% |