PETROL, d.d., Ljubljana
Publication of information concerning a commercial paper issue
The information of this announcement will be available on Petrol d.d., Ljubljana web site, www.petrol.si at least 5 years from the date of the announcement.
In compliance with the obligation laid down in the Financial Instruments Market Act (hereinafter referred to as ‘FIMA’) to disclose regulated information, Petrol d.d., Ljubljana hereby announces that it has successfully concluded the first sale of 6-month commercial papers (identification code: PEK01), the total nominal amount of which equals EUR 50,000,000.00.
The company Petrol d.d., Ljubljana (hereinafter also referred to as the 'issuer') intends to carry out four consecutive issues of money market instruments – six-month freely transferrable registered commercial papers, the maturity date of the previous issue being the same as the payment date for the next issue, in line with market conditions prevailing on that date. The characteristics of each issue shall be determined before each initial offering of commercial papers. Commercial papers shall be issued as part of the public offering procedure, which does not require compliance with the rules regarding the publication of a prospectus and other rules relating to the public offering of securities as laid down in Chapter 2 of the FIMA.
Commercial papers have been issued for the purpose of ensuring continuous short-term financing of the issuer's operations and diversifying the base of short-term debt investors to banks and institutional investors. The first in the series of consecutive issues of commercial papers received a warm welcome from investors, who submitted binding offers for the purchase of commercial papers in a total nominal amount that was more than double the total nominal amount initially envisaged for the entire issue (EUR 30,000,000.00). In accordance with the provisions stipulated in the decision to issue commercial papers, the issuer partly accepted some of the binding offers and increased the final total nominal amount of the entire issue to EUR 50,000,000.00.
On 27 March 2012, the entire first consecutive issue of the commercial papers under the code PEK01 consisting of 50,000 denominations of EUR 1,000.00, the total nominal amount of which equals EUR 50,000,000.00, was paid up by 56 buyers.
Following the entry of commercial paper holders into the central registry of KDD – Central Securities Clearing Corporation, the issuer shall apply for the admission of the commercial papers to trading on the regulated market of the Ljubljana Stock Exchange.
The commercial papers bear an interest rate of 4.10% p.a. A commercial paper is a discount security, meaning interest is accounted for in advance and deducted as a discount from the commercial paper's nominal amount once the commercial paper is paid up. Interest is calculated using the simple interest calculation method and paid in arrears, taking into account the actual number of days left to maturity and a 360-day year. Interest is rounded to two decimal places and calculated for the interest-bearing period beginning on 27 March 2012 and ending on the maturity date of the commercial papers, i.e. 27 September 2012. Considering the above, no interest is therefore paid, while obligations arising from the commercial papers, which equal the nominal amount of the commercial papers, are settled upon their maturity on 27 September 2012.
All services and activities regarding the organisation and execution of the initial offering of the commercial papers, the issuing of the commercial papers in book-entry form together with their entry into the Central Securities Clearing Corporation's central registry, and the admission of the commercial papers to the regulated market are performed by NLB d.d. on behalf of the issuer.
Management Board of Petrol d.d., Ljubljana