Poland’s first wholesale Internet supplier in LTE technology has decided to issue bonds from which it will gain PLN 200 million. As a result of this issue, Midas will gain financing for the second phase of expansion of its network for data transfer in ultra-fast LTE/HSPA+ technology, which is to be completed in mid-2014.

In accordance with the decision of the Company’s Management Board, Midas will issue up to 600,000 bonds with a par value of PLN 1,000 each. The unit price of the bonds will, after taking a discount into consideration, be PLN 342.77 – which means that Midas will gain about PLN 200 million. The bond issue will be on 29 March 2013 and they will be repurchased on 29 March 2021. The Company will strive to have the bonds introduced to trading on the Catalyst market.

As a result of the funds gained from the series D issue and the debt financing, the Midas Group will by mid-2014 (i.e. at the end of the second phase of network expansion) have a total number of over 44,000 base stations. In the next stage, the Company wants to carry out phase 3 of its expansion of the network. Realising this plan will ensure that 66 per cent of the Polish population is covered by the LTE network and almost 100 per cent by the HSPA+ network.