Capital/Financing Update • May 12, 2021
Capital/Financing Update
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May 11, 2021
InPost S.A. (the "Company") announces today that it has signed an agreement with Bank Polska Kasa Opieki S.A. and BNP Paribas Bank Polska S.A. as co-arrangers and dealers, and ING Bank Śląski S.A. as dealer, to establish a Polish bond program (the "Program"). The Program provides the Company with the flexibility to carry out a series of PLN-denominated bond issuances, governed by Polish law, up to the aggregate nominal value of PLN 1 billion outstanding at any time under the Program.
The Company intends to use the net proceeds of any such bond issuances to partially repay its bridge loan facility which the Company intends to incur in order to finance the 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 March 15 2021, amounts to about €565 million (approximately PLN 2.6 billion).
Bonds issued under the Program (the "Bonds") will be offered solely to qualified investors (as defined in the Requlation (EU) 2017/1129 (the "Prospectus Requlation")) 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.) and may be introduced to trading in the Alternative Trading System (Alternatywny System Obrotu) Catalyst operated by the Warsaw Stock Exchange (Giełda Papierów Wartościowych w Warszawie).
The Bonds issued under the Programme may bear a floating or fixed interest rate with a maturity of up to 6 years. The final parameters of each series of Bonds will be determined in the book-building process.
Subject to market conditions and required corporate approvals, the Company intends to issue the first series of Bonds under the Program by the end of July 2021.
In-Post SA ("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 12,000 Automated Parcel Machines ("APMs"), including over 1,100 in the UK, as well as to-door couriers and fulfilment services to ecommerce merchants. In 2020, InPost handled 249 million parcel deliveries through its APMs, working with over 26,000 merchants. Strategically positioned in the fast-growing e-commerce ecosystems. In Post 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 approximately 5.7 million active users.
This press release contains inside information relating to the Company within the meaning of Article 7(1) of the EU Market Abuse Regulation.
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 quarantees 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
InPost S.A. (Société anonyme), a company incorporated and existing under the laws of Luxembourg, with its registered office in Grand Duchy of Luxembourg, at 70, route d'Esch, L-1470 Luxembourg, entered into the Register of Commerce and Companies (RCS) under number B248669
law or the applicable rules of any exchange on which our securities may be traded, we have no intention or obligation to update or revise any forward-looking statement.
Enquiries:
InPost
Sherief Bakr, Investor Relations
+44 7756 205 027
Wojciech Kądziołka, Spokesman
+48 725 25 09 85
Powerscourt
James White and Elly Williamson
+44 7855 432 699 / +44 7970 246 725
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