Up to 100 million PLN for the development of the AB Group in the Czech Republic
The AB Group, Central and Eastern Europe’s biggest distributor of IT products and consumer electronics, introduced an amendment to the contract with Bank Pekao SA concerning a bond issue programme for 2014. As a result – similar to the previous year – the Company plans to issue unsecured 5-year floating rate notes (WIBOR + margin) with collective nominal value up to 100 million PLN.
"The change of the financing structure of AB SA in 2014, where short-term bank loans were replaced by long-term bonds, provided a growth impulse for the Company. We plan on introducing the same strategic changes in our Czech company", said Grzegorz Ochędzan, Member of the AB SA Board in charge of finance.
"The funds obtained by this move will be used in order to fuel the strategic development of the AB Group in the attractive Czech market, where AT Computers, our subsidiary company became the leader of the market and has the potential to further grow dynamically", Grzegorz Ochędzan emphasised.
In August 2014 AB SA successfully concluded the issue programme of 5-year unsecured coupon bonds with collective par value of 100 million PLN. The demand from the financial institutions exceeded the offered pool by over 60%. As a result the company used up the entire issue programme in the first offering.