Capital/Financing Update • Jun 25, 2021
Capital/Financing Update
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Luxembourg, Luxembourg – 24 June 2021. InPost S.A. ("InPost" or the "Company"), the leading pan-European e-commerce enablement platform, today announces the pricing and final terms related to the issuance of the Company's A-series bonds (the "Bonds") under InPost's Polish bond program established on 11 May 2021 (the "Program") announced in the press release – "InPost S.A. announces establishment of Polish bond program" on the same date. The Company has undertaken necessary steps towards the issuance of the Bonds, including signing of the terms and conditions of the Bonds.
The nominal value of each Bond will be PLN 500,000 and the total nominal value of the Bonds will be PLN 500 million. The Company decided to upsize the simultaneously launched Euro-denominated senior notes offering which provided an attractive low fixed rate coupon and favourable financing terms, leaving a smaller amount available for the Bonds. The issue price of each Bond will be equal to its nominal value. At the date of issuance of the Bonds, the Bonds will be secured by guarantees granted by the following entities from the Company's group: Integer.pl S.A., InPost Paczkomaty sp. z o.o., Integer Group Services sp. z o.o. and InPost sp. z o.o. The Bonds will bear a coupon at the floating interest rate equal to WIBOR 6M plus an initial margin of 2.500% per annum. The Bonds will be issued on 8 July 2021.
On 21 June 2021, Moody's assigned Ba2 corporate rating to InPost and Ba2 rating to the Bonds.
The Company intends to utilise the proceeds from the issuance of Bonds to partially finance the previously announced acquisition of Mondial Relay, a leading out-of-home delivery provider in Europe. The transaction value of the proposed acquisition of Mondial Relay, announced on 15 March 2021, amounts to €513 million (approximately PLN 2.4 billion).
The Bonds have been offered solely to qualified investors (as defined in the Regulation (EU) 2017/1129 (the ''Prospectus Regulation'')) in accordance with Article 33 point 1 of the Polish Act on Bonds (Ustawa o Obligacjach) dated 15 January 2015 (as further amended), without the obligation to publish a prospectus under Article 1 sec. 4 (a) of the Prospectus Regulation. The Bonds will be registered in the Central Securities Depository of Poland (Krajowy Depozyt Papierów Wartościowych S.A.) on the issue date of the Bonds. The Bonds will be introduced to trading in the Alternative Trading System (Alternatywny System Obrotu) Catalyst operated by the Warsaw Stock Exchange (Giełda Papierów Wartościowych w Warszawie S.A.).
The final redemption date of the Bonds will be 29 June 2027.
This press release contains inside information relating to the Company within the meaning of Article 7(1) of the EU Market Abuse Regulation.
InPost is the leading e-commerce enablement platform. Founded in 1999 by Rafal Brzoska in Poland, InPost provides delivery services through its network of more than 13,500 Automated Parcel Machines ("APMs"), including over 1,400 in the UK as of the
1 The Bonds will be issued on pari passu basis with the euro-denominated senior notes due 2027 (the "EUR Tranche"). The EUR Tranche will be guaranteed by guarantees granted by the same entities which will grant guarantees under the Bonds. Although the EUR Tranche will be guaranteed, in line with the New York law governing the Indenture, such guaranteed notes are classified as unsecured. Under Polish law, the Bonds in relation to which guarantees are granted, are classified as secured bonds.
end of Q1 2021, as well as to-door couriers and fulfilment services to e-commerce merchants. In the twelve months to 31 March 2021, InPost handled 293 million parcel deliveries through its APMs, working with over 28,000 merchants. Strategically positioned in the fast-growing e-commerce ecosystems, InPost benefits from supportive market trends which drives further APM adoption. APMs provide consumers with a lower cost, flexible, convenient, environmentally friendly and contactless delivery option. Through its APM delivery services, InPost is creating a greener solution for e-commerce, as locker delivery results in a reduction of CO2 emissions by two-third compared to to-door deliveries in urban areas and 90% in rural areas as well as significant reduction in congestion. In addition, APMs provide a more convenient solution to parcel delivery for consumers, allowing for 24/7 access without the need for consumers to remain at home. Highly efficient IT infrastructure and rapid adoption of new technology underpin InPost's operations and growth. InPost's mobile application 'InPost Mobile' is one of the most successful apps in Poland with more than 6.5 million active users as of April 2021.
Certain statements contained in this press release, including, without limitation, those regarding our, business strategy and management plans and objectives for future operations, are, or may be deemed to be, forward-looking statements that reflect the Company's current views with respect to future events and financial and operational performance. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ''believes'', ''estimates'', ''plans'', ''projects'', ''anticipates'', ''expects'', ''intends'', "approximately", ''may'', ''will'', "would", "could" or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements are based on the Company's beliefs, assumptions and expectations regarding future events and trends that affect the Company's future performance, taking into account all information currently available to the Company, and are not guarantees of future performance. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and the Company cannot guarantee the accuracy and completeness of forward-looking statements. A number of important factors, not all of which are known to the Company or are within the Company's control, could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement as a result of risks and uncertainties facing the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are subject to change without notice. Other than as required by applicable law or the applicable rules of any exchange on which the Company's securities may be traded, the Company has no intention or obligation to update or revise any forward-looking statement.
Enquiries: InPost Sherief Bakr, Investor Relations [email protected] +44 7756 205 027
Powerscourt
James White and Elly Williamson [email protected] +44 7855 432 699 / +44 7970 246 725
Wojciech Kądziołka, Spokesman [email protected] +48 725 25 09 85
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