Overview
| Issuer: | Tatry mountain resorts, a.s. |
| Market: | Burza cenných papierov v Bratislave |
| Volume: | 70 000 000 EUR |
| Nominal value: | 1 000 EUR |
| Coupon Rate: | pevná úroková miera 4,50% p.a. |
| Coupon Payment: | polročne vždy k 17.6. a 17.12. |
| Maturity Date: | 17. decembra 2018 |
| ISIN: | SK4120009606 |
| Rating: | --- |
| Issue Date: | 17.12.2013 |
Purpose
The purpose of use of the funds raised by the issuance of the Bonds is payment to shareholders due to the reduction of the Issuer’s share capital.
Ranking
The Bonds TMR I 4,50% / 2018 (the Bonds) are senior, secured by a pledge over certain immovable assets owned by the Issuer and its claims will be settled paripassu to all other current and future direct, unconditional, unsubordinated and similarly secured liabilities of the Issuer.
Security
The Bond obligations will be secured by a pledge over the Immovables owned by the Issuer for the benefit of the Security Agent. The Security Agent will pay the proceeds from the enforcement of the Security to the Administrator for their subsequent payment to the Bondholders to the extent of the outstanding obligation of the Issuer. Every Bondholder appoints the Security Agent to act as Security Agent. For this purpose, the Security Agent is a joint and several creditor of each payment obligation of the Issuer against any and all Bondholders in respect of the Bonds.
The total residual book value of the Immovables as of 30 September 2013 was EUR 85,936,710. As of the date of preparation of the Prospectus, the Immovables are free of any security right except for the statutory pledges (if any).
Negative Pledges
The Issuer pledges until the satisfaction of all its payment obligations arising out of the Bonds:
- not to create and not to allow the creation of any Security Right securing any obligations of the Issuer to repay an amount arising out of the transferable securities maturing in more than 365 days, unless simultaneously with the creation of such a Security Right it ensures that its obligations arising out of the Bonds are secured equally to the obligations so secured
- not to create any further Security Right in respect of the Immovables used for the purposes of securing the Bonds
- to keep the Senior Debt to EBITDA indicator at or below 7
Purchase
The Issuer may at any time before the Bonds Maturity Date purchase any Bonds at the secondary market for any market price.
Early Redemption
The Issuer reserves the option of early redemption of the Bond Nominal Value on the basis of its decision by providing a notice to the Bondholders at least 30 days before each Interest Payment Date. The Issuer will pay to the Bondholders the Bond Nominal Values increased by 1% including the applicable interest income.
| Issuer: | Tatry mountain resorts, a.s. |
| Market: | The Bratislava Stock Exchange |
| Volume: | 110 000 000 EUR |
| Nominal Value: | 1 000 EUR |
| Coupon Rate: | fixed rate 6.00% p.a. |
| Coupon Payment: | annual always on 05-02 |
| Maturity Date: | 5. February 2021 |
| ISIN: | SK4120009614 |
| Rating: | --- |
| Issue Date: | 05-02-2014 |
Purpose
The purpose of use of the funds raised by the issuance of the Bonds is payment to shareholders due to the reduction of the Issuer’s share capital.
Ranking
BondsTMR II 6,00% / 2021 (the Bonds) are junior, subordinated, in case of the Issuer’s liquidation the Bonds‘ claims will be settled after settling claims of all other Issuer’s creditors, whose receivables are unsubordinated and who will have their receivables claimed in the Issuer liquidation proceedings.
Security
The Bonds’ claims will be secured by unsecured, unconditional, and unsubordinated liabilities of the Issuer.
Coupon Payment
The Bonds pay a fixed interest rate of 6.00% p.a. Coupon payments will be made for each payment period in arrears, first on 5 February 2015, from then on always on 5 February of each year and last on the maturity date, provided that according to latest audited financial statements of the Issuer:
- net income will be greater than EUR 1.00; and
- the senior debt-to-EBITDA ratio will equal no more than 5.25, whereas „senior debt“ means the Issuer’s liabilities from loans and debt Instruments including Bonds TMR I, but excluding any subordinated liabilities and liabilities of these Bonds or any other subordinated bonds issued by the Issuer.
Any portion of unpaid coupon payments for prior payment period will be repaid on next coupon payment day, provided that the following conditions are met:
- senior debt to EBITDA, according to latest Issuer’s published audited financial statements, will be no greater than 3.00; and
- any payment of unpaid coupon on the coupon payment day will not result indebt service coverage ratio lower than 1.00 for the financial year during which the payment is made, calculated by the Issuer.
Each amount of unpaid coupon will earn an interest rate of 6.00% p.a.
Purchase
The Issuer may not purchase the Bonds.
Early Redemption
The Bonds may not be redeemed early.
Overview
| Issuer: | Tatry mountain resorts, a.s. |
| Market: | The Bratislava Stock Exchange |
| Volume: | 90 000 000 EUR |
| Nominal Value: | 1 000 EUR |
| Coupon Rate: | fixed rate 4.40% p.a. |
| Coupon Payment: | semi-annual always on 10-04 and 10-10 |
| Maturity Date: | 10-10-2024 |
| ISIN: | SK4120014598 |
| Issue Date: | 10-10-2018 |
Purpose
The purpose of the use of the funds raised by the issuance of the Bonds is refinancing of the existing liabilities of the Group and financing of its day-to-day business operations.
Security
The Bond obligations will be secured by a lien on certain movable and immovable assets owned by the Issuer and by a lien on the Issuer s receivables from the LTV account in favor of the Security Agent, Patria Corporate Finance, a.s.
Coupon Payment
The Bonds pay a fixed interest rate of 4.40% p.a. Coupon payments will be made for each payment period semi-annually in arrears, always on 10 April and 10 October of each year.
Covenants
LTV will be no greater than 70%. Net senior debt to modified EBITDA will be no greater than 8.
Security Prospectus (SK)
Results of the Public Offering (SK)
Announcement to the Bond Owners (SK)
Indicator Leverage TMR III 31.10.2018 (SK)
Indicator Leverage TMR III 30.4.2019 (SK)
Indicator Leverage TMR III 30.4.2020 (SK)
Notice of change of registered office
Announcement to the Bond Owners (SK)
Indicator Leverage TMR III 31.10.2019 (SK) - updated
Proposal to change emission conditions
Notice of the meeting of bondholders and the change of issue conditions
Full text of the Conditions as amended by the Meeting
Indicator Leverage TMR III 30.4.2021 (SK)
Indicator Leverage TMR III 31.10.2021 (SK)
Indicator Leverage TMR III 30.04.2022 (SK)
Indicator Leverage TMR III 31.10.2022 (SK)
Indicator Leverage TMR III 30.04.2023 (SK)
| Issuer: | TMR Finance CR, a.s. |
| Market: | The Prague Stock Exchange |
| Volume: | 1 500 000 000 CZK |
| Nominal Value: | 30 000 CZK |
| Coupon Rate: | fixed rate 4.50% p.a. |
| Coupon Payment: | semi-annual always on 07-05 and 07-11 |
| Maturity Date: | 07-11-2022 |
| ISIN: | CZ0003520116 |
| Issue Date: | 07-11-2018 |
Purpose
The purpose of the use of the funds raised by the issuance of the Bonds is refinancing of the existing liabilities of the Group and financing of its day-to-day business operations.
Security
The Bonds constiture direct, general, unconditional, and non-subordinated obligations of the Issuer, secured by a guarantor statement of Tatry mountain resorts, a.s. (the Guarantor). Furthermore, the Bond obligations will be secured by a lien in favor of the Security Agent, Patria Corporate Finance, a.s., for: (i) certain immovable assets owned by the Guarantor in the Slovak Republic; (ii) certain movable assets owned by the Guarantor and its indirect 100% subsidiary Śląskie Wesołe Miasteczko Sp. Zoo. in the Slovak Republic and the Republic of Poland, (iii) a 75% share in the capital of Śląskie Wesołe Miasteczko Sp. Zoo. owned by Tatry Mountain Resorts PL, a.s., which is a 100% direct subsidiary of the Guarantor and (iv) the Guarantor s receivables from the LTV account.
Coupon Payment
The Bonds pay a fixed interest rate of 4.50% p.a. Coupon payments will be made for each payment period semi-annually in arrears, always on 7 November and 7 May of each year
Covenants
LTV will be no greater than 70%. Net senior debt to modified EBITDA will be no greater than 8.
Tatry mountain resorts, a.s. mandated J&T BANKA to place the new mid-term Notes
Amendment No 1 to the Security Prospectus
Senior Debt to EBITDA Indicator 31.10.2020
Indicators Senior Debt to EBITDA and DSCR 31.10.2021
Indicators Senior Debt to EBITDA and DSCR 31.10.2022
A proposal to change a bond conditions
Notice of the meeting of bondholders and the change of issue conditions
Constitutional Documents in their original wording (SK)
Audited Consolidated Financial Statements for the Period from 1 November 2020 to 31 October 2021
Audited Consolidated Financial Statements for the Period from 1 November 2019 to 31 October 2020
A proposal to change a bond conditions
Notice of the meeting of bondholders and the change of issue conditions
Notice of the meeting of bondholders and the change of issue conditions
Full text of the Conditions as amended by the Meeting
Last Updated on 13.09.2022