PLN series B Bonds
Key Information
| Issuer: | Cyfrowy Polsat S.A. | |
|---|---|---|
| Series/ISIN: | Series B, PLCFRPT00047 (CPS0426) | |
| Stock Exchange: | Catalyst (ASO GPW) | |
| Nominal value: | PLN 1,000 | |
| Number of listed bonds: | 308,048 | |
| First and last days of interest periods: | April 26 and October 26 (excl. the last interest period where the last day is April 24) | |
| Interest: | variable | |
| WIBOR 6M + 175 bps | if leverage ratio <3.5x | |
| WIBOR 6M + 200 bps | if leverage ratio 3.5-4.0x | |
| WIBOR 6M + 250 bps | if leverage ratio >4.0x | |
| Maturity: | April 24, 2026 | |
| Method of offering bonds: | public offer to professional clients | |
| Security: | none | |
| Call Schedule: | Date: | Call price: |
| until April 26, 2020 | 103.00% | |
| until April 26, 2021 | 101.50% | |
| until April 26, 2022 | 100.75% | |
| until April 26, 2023 | 100.50% | |
| after April 26, 2023 | 100.00% |
Documents related to the issue of series B Bonds
- Interest rate table (.PDF)
PLN series C Bonds
Key information
| Issuer: | Cyfrowy Polsat S.A. | |
|---|---|---|
| Series/ISIN: | Series C PLCFRPT00054 (CPS0227) | |
| Stock Exchange: | Catalyst (ASO GPW) | |
| Nominal value: | 1,000 PLN | |
| Number of listed bonds: | 164,009 | |
| First and last days of interest periods: |
14 February and 14 August (excl. the last interest period where the last day is 12 February) |
|
| Interest: | variable | |
| WIBOR 6M + 165 bps | if leverage ratio is lower or equal to 3.5x | |
| WIBOR 6M + 190 bps | if leverage ratio is higher than 3.5x but lower or equal to 4.0x | |
| WIBOR 6M + 240 bps | if leverage ratio is higher than 4.0x | |
| Maturity: | 12 February 2027 | |
| Method of offering bonds: | public offer of securities directed solely to professional investors | |
| Security: | unsecured | |
| Purpose of the issuance: | Refinancing the costs incurred by the Issuer and its subsidiaries in the years 2017-2019 to improve their energy efficiency, reduce the number of used electronic components and thereby reduce the carbon footprint of the Issuer and its subsidiaries, in line with the Green Bond Framework available at the Issuer’s web site and positively verified for compliance with the Green Bond Principles 2018, as confirmed in an independent expert opinion (Second Party Opinion). | |
| Call Schedule: | Date: | Call price: |
| until13 February 2021 | 103.00% | |
| from 14 February 2021 until 13 February 2022 | 101.50% | |
| from 14 February 2022 until 13 February 2023 | 100.75% | |
| from 14 February 2023 until 13 February 2024 | 100.50% | |
| from 14 February 2024 | 100.00% | |
Documents related to the issue of series C Bonds
- Green Bond Framework Cyfrowy Polsat S.A. Capital Group (.PDF)
- Sustainalytics Second Party Opinion (.PDF)
- Interest rate table (.PDF)
PLN series D Bonds
Key information
| Issuer: | Cyfrowy Polsat S.A. | |
|---|---|---|
| Series/ISIN: | Series D PLCFRPT00070 (CPS0130) | |
| Stock Exchange: | Catalyst (ASO GPW) | |
| Nominal value: | 1,000 PLN | |
| Number of bonds: | 2,670,000 | |
| 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 Bonds
- Interest rate table (.PDF)
Ratings
| corporate rating of the Group | latest review | |
|---|---|---|
| S&P Global Ratings | BB, stable | Decemebr 21, 2022 |
| Moody's | Ba3, negative | October 5, 2022 |
Analysts responsible for Cyfrowy Polsat's credit ratings:
Standard & Poors
Natalia Arrizabalaga
e-mail: natalia.arrizabalaga@spglobal.com
https://www.spglobal.com
Moody's
Ernesto Bisagno
e-mail: ernesto.bisagno@moodys.com
http://www.moodys.com
Framework ESG
We want to create the value of Polsat Plus Group in a sustainable manner, taking into account and addressing environmental and social issues, and conducting our business responsibly and transparently, to the benefit of local society and all stakeholders. Specifically, we believe that the transition towards clean and affordable energy, in particular energy produced from renewable sources, is what Poland needs and that it creates new development opportunities for the Group.
Cyfrowy Polsat was the first company in Poland outside of the banking sector to issue, in February 2020, corporate green bonds denominated in Polish zloty (PLN), with the proceeds from the bond issue, amounting PLN 1.0 billion, being used for refinancing the pro-environmental projects, including improvement of energy efficiency of our infrastructure or reduction of the carbon footprint associated with the electronic devices manufactured by us.
By establishing the Sustainability-Linked Financing Framework dated September 2022, we aim to communicate to our investors and all stakeholders our sustainability strategy plan and especially the environmental focal points of our business plan, in particular around our ambition to fight against climate change and improve air quality in Poland by taking actions and making investments to help accelerate Poland’s transition towards green energy. Moreover, by incorporating sustainability-linked instruments in our funding policy, we aim at broadening our commitment to drive the effort to fight global warming. To showcase the central role in the transition towards a sustainable economy, we have the ambition and commitment to use this Framework to issue future debt instruments in sustainability-linked format across both loans and bonds going forward.
|
Sustainability-Linked Financing Framework Sustainability-Linked Financing Framework - Second-Party Opinion |
