FKA Furtek Komosa Aleksandrowicz advises Sfinks Polska on the issue of convertible bonds.

In March 2013, FKA team, under the supervision of the partners -Mariusz Alexandrowicz and Leszek Rydzewski, and with the participation of Tomasz Salak and Bartłomiej Bronisz, advised Sfinks Polska S.A. on drafting documentation to the first issue of convertible bonds under the private placement and creating the obligation for each bondholder to convert the acquired bonds into shares.

The maturity date of the A1 series bonds is 31 December 2019 and the purpose of the issue is to restructure Sfinx’s financial liabilities to banks financing the company so far. The Depository maintaining the bonds records is Trigon Brokerage S.A.
Thanks to this issue, Sfinks Polska, which runs such restaurant chains as Sphinx, WOOK or Chłopskie Jadło, managed to collect the funds  which will enable the company to partially fulfill one of the provisions of the agreements recently made with  PKO Bank Polski SA and ING Bank Slaski SA on debt restructuring.
In June 2012, FKA advised the issuer in the course of adopting a resolution by the general meeting of shareholders on the issue of convertible bonds and the conditional share capital increase.

- I am pleased that Sfinks Polska S.A. appreciated our experience in advising on various types of bond issues and issuers of different profiles and invited our team to assist in the transaction which is so important for the issuer as it allows the company to focus on the development of their network – said Leszek Rydzewski
 

Source: www.rp.pl