Issue of Fast Finance S.A. bonds (RB 12/2010)

Legal basis:

Article 56 section 1 item 2 of the Act on Public Offering – current and interim information

Content of the report:

The Management Board of Fast Finance informs that it issued 8,730 ordinary bearer B series bonds in the total amount of PLN 8,730,000 on 5 July 2010. The above issue of the B series bonds is a second tranche of bonds issued as part of the bond issue scheme amounting to PLN 30 mln. The whole second tranche of bonds was acquired on 6 July 2010. The offeror was Dom Maklerski BPS S.A. The bonds were issued under the following issue conditions:

– the purpose of issue: to gain funds the Issuer intends to allocate for the purchase of new debt portfolios within the economic activity it conducts

– the value of issue: PLN 8,730,000

– nominal value and issue price of one bond: PLN 1,000

– redemption conditions: the bonds will be redeemed on 5 July 2012
– the interest rate: the interest rate is variable, based on 6 M WIBOR + 6 p.p. as per year, half-year interest periods

– security: registered pledge on: (i) receivables from the Issuer’s current account, up to the highest security amount of PLN 25,000,000 (ii) receivables from the collection of any current and future cash receivables resulting from credit and loan agreements granted by Santander Consumer Bank S.A. with its registered seat in Wrocław, and transferred to the Issuer on account of the receivables sale agreement, concluded on 30 September 2008, up to the highest security amount of PLN 25,000,000.
– the value of liabilities as on the last day of the quarter preceding submitting the purchase offer: PLN 43,150,000;

– projections of liabilities under the bonds, until their complete redemption: PLN 24,607,000;

– data allowing prospective bond buyers to gain knowledge in respect of the effects of the undertaking that is to be financed through the bond issue: the Issuer will inform through current reports about next purchases of debt portfolios that will be financed from the issue of B series bonds,

– the issuer’s capability of meeting the obligations resulting from the bonds: the Issuer has the full capability to meet the obligations resulting from the issued bonds of B series,

– valuation of the pledged item carried out by a certified expert: pursuant to article 10 item 2 of the Bonds Act the Issuer had the subject of the Registered Pledge valuated by a certified property expert, Ms Bożena Pustelnik, registered under no 3298. The expert valuated the subject of the registered pledge at the amount of:
(i) PLN 25,001,975.45 which includes the collection of any current and future cash receivables resulting from credit and loan agreements, and (ii) PLN 49,525.70 which includes current and future receivables from the current account belonging to the Issuer as on 12 May 2010.

Signatures of the company’s representatives:

Jacek Longin Daroszewski - Chairman

Jacek Zbigniew Krzemiński - Vice-chairman