OT LOGISTICS SA (20/2019) Reconciliation with the Group's main financial creditors of the financial restructuring conditions of the OT Logistics Capital Group

With regard to information provided by OT Logistics S.A. (Issuer) in current and periodic reports in 2018 and 2019 in the scope of ongoing negotiations regarding the refinancing of the debt of the OT Logistics Group (Group), the Issuer's Management Board informs that on February 15, 2019, the content of the document entitled "Initial restructuring assumptions of OT Logistics S.A. and its selected subsidiaries" (Preliminary Assumptions), including the terms of financial restructuring of the Group, was agreed by the Issuer with key financial creditors of the Group, i.e. with Bank BGŻ BNP Paribas S.A. (including the legal successor of Raiffeisen Bank Polska S.A.), Santander Bank Polska S.A. and mBank S.A. (including Banks), Bank Gospodarstwa Krajowego (BGK) and a bond holder of series G bonds issued by the Issuer (Bonds G). Confirmation of the content of the Initial Assumptions by the aforementioned entities was subject to: (1) obtaining by them final credit approvals or other required internal approvals and (2) agreeing and concluding the documentation approved by them implementing the Initial Assumptions, including in particular agreements between creditors. In addition, financial institutions with significant series D and F series bonds, participating in the process of agreeing initial assumptions, did not raise any objections to the agreed content of the Initial Assumptions. Due to the nature of the instrument, the decision to acquire the H Bonds will be an individual investment decision of each bondholder series D and F bonds, which will receive an offer to acquire the H Bonds.
The Initial Assumptions provide in particular for:
(1) a change in the terms and conditions extending loan repayment deadlines for Banks and changing the terms and extending the redemption date of Bonds G;
(2) issue of H-series bonds by the Issuer with a view to refinancing of existing D and F series bonds (of which the Issuer informed in current report No. 34/2018) (H-Bonds) to be taken up by bond bondholders D and F issued by the Issuer;
(3) implementation of the Group's recovery plan, which the Issuer reported in the current report No. 56/2018.
Initial Assumptions are not binding.
At the same time, the Issuer informs that work on the documentation implementing the provisions of the Initial Assumptions is in progress.

Source: company website, investor relations, current and periodic reports.

Company information
Company name:OT Logistics SA
Adress: ul.Ks. Stanisława Kujota 18,19 70-605 Szczecin
Phone:+48 91 4257300

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