Corporate Notes

Year 2017

Summary Prospectus for the admission to trading on a regulated market of the Gorenje, d.d., Notes

The company Gorenje, d.d., received on 29 June, 2017 the decision by the Securities Market Agency No. 40200-4/2017-9 from 29 June, 2017 on the approval of the prospectus for the admission to trading on a regulated market of the 19,456 Notes with the symbol GV02.

Please, find attached Summary Prospectus!

Disclaimer: All announcements in English language are only for information purposes!

Gorenje adopts resolution on second issue of corporate notes - 3 May 2017

With regard to the announcements dated April 6, 2017, and April 14, 2017, the company Gorenje d.d. (hereinafter also referred to as the Company or the Issuer) informs the public that it adopted on May 3, 2017, a resolution to issue corporate notes with the symbol GV02, under the following terms and conditions:

  • total face value of the entire Note issue shall be up to EUR 40 million; total issue includes 40,000 notes at par value of EUR 1,000.00 per Note;
  • nominal value of the Note principal shall be redeemable as bullet repayment, i.e. in a single amount on the bond maturity date on May 11, 2022. Interest (coupon) shall accrue from May 11, 2017, and it shall be paid out at the end of each accrual period on May 11 of every year, starting on May 11, 2018;
  • fixed coupon rate for the Notes shall be 2.45% p.a.;
  • the Issuer's liabilities pertaining to the Notes, towards the holders or beneficiaries of such Notes, are backed by entire Issuer's property. The Notes are not backed by any underlying collateral or guarantee of the Issuer, and the Note holders shall not have any preferential treatment relative to other Issuer's creditors or their claims or receivables from the Issuer. The Issuer's liabilities pertaining to Notes shall be direct, unconditional, non-insured, and non-subordinated and shall always be at least equivalent in terms of the order of repayment (pari passu) both mutually and in respect to all other Issuer's existing and future non-insured and non-subordinated liabilities. All terms and conditions regarding the Notes shall be entered into the central register of the Central Securities Clearing Corporation (KDD), and they shall be disclosed in entirety in the presentation document for regulated trading with the corporate Notes.

Actual issue of Notes will depend on actual subscription and payment of the Notes by potential investors. The Notes will be offered to invited investors in Slovenia and in other EU member countries, pursuant to the relevant legislation, based on exemptions from the publication of a securities offering prospectus.

The Issuer will inform the public about the actual issue of corporate notes presumably on May 11, 2017.

Issue and offering of corporate Notes of the company Gorenje d.d., Velenje, will be organized by Nova Ljubljanska banka d.d., Ljubljana.

Disclaimer: The English text for all announcements is for information purposes only!

Gorenje plans its second issue of notes - 14 April 2017

Gorenje, d.d., hereby informs the public that further information about the potential issue of 5-year notes will be presented today at the meeting with potential financial investors. At the meeting, the company Gorenje, d.d., will present Gorenje Group performance and proposed terms for the new note issue. The said presentation is intended for potential financial investors considering participation in the process of note issue, and it does not constitute a public offer of bonds pursuant to the Financial Instruments Market Act (ZTFI), nor does it constitute any obligations for the company Gorenje, d.d., to actually issue the notes.

Please find a presentation of Gorenje Group operations and performance attached herewith.

Issue and offering of notes of the company Gorenje, d.d., will be organized by Nova Ljubljanska banka d.d. Ljubljana.

Disclaimer: The English text for all announcements is for information purposes only!

Gorenje considers second bond issue - 6 April, 2017

The company Gorenje, d.d., hereby publicly announces that, consistently with its policy of diversification of financing sources, is analyzing the possibilities for the second issue of bonds. The Company's decision on actual bond issue, type of bond, coupon, and nominal size of the issue will be adopted based on the market conditions and investor response or interest.

The purpose of the bond issue is to further improvement of the average maturity of financing sources, support the achievement of the Strategic Plan of the Gorenje Group 2016-20 through planned growth of operations and continuing to improve the sales structure (especially in the segment of premium and innovative products), to refinance part of long-term financial resources and to optimize the finance expenses.

The company Gorenje, d.d., will commence the procedure for new issue of bonds. To this end, the company will start the pre-issue activities in the capital market (market sounding), which will be followed by the offering process to be completed with subscription and payment for new bonds, which is planned by the mid of May 2017.

On behalf of the company Gorenje, d.d., activities regarding the issue and offering of bonds are managed by Nova Ljubljanska banka, d.d., Ljubljana.

Disclaimer: The English text for all announcements is for information purposes only!

Year 2014 - GV01

Admission to trading on a regulated market of the Gorenje, d.d., bonds - 23 October, 2014

The company Gorenje, d.d., received on 23 October, 2014 the decision by the Securities Market Agency No. 40200-8/2014-3 from 23 October, 2014 on the approval of the prospectus for the admission to trading on a regulated market of the 73,000 bonds with the symbol GV01.

Disclaimer: English text for all announcements is for information purposes only!

Announcement on the issue of corporate notes by the company GORENJE, d.d., Velenje - 10 October, 2014

Pursuant to Article 129 of the Financial Instruments Market Act (ZTFI) (Official Journal of the Republic of Slovenia, No. 67/2007, as subsequently amended; hereinafter referred to as ZTFI) specifying the obligation to announce information on new issues of debt securities of a publicly traded company, the company Gorenje, d.d., Velenje, hereby makes the following announcement:

Pursuant to the Resolution on the Issue of Corporate Notes with the Symbol GV01, dated September 30, 2014, the company GORENJE, d.d., Partizanska cesta 12, SI-3320 Velenje, (hereinafter:  Gorenje, d.d.; or the Issuer) issued on October 10, 2014, 5-year corporate notes with a total face value of EUR 73 million. Due to overwhelming investor interest, total face value exceeds the initially anticipated amount of EUR 50 million.

The company Gorenje, d.d., will use the funds raised with the issue of GV01 notes to further strengthen the maturity profile of its debt and to diversify its long-term financing sources which are currently restricted to banking sources.

Pursuant to the relevant legislation, the notes were offered, subject to exceptions from the obligation to publish a prospectus, in Slovenia and other EU member states. The GV01 notes were subscribed by 97 investors.

On October 10, 2014, the notes were issued in dematerialized form by registration to the KDD (Central Securities Clearing Corporation, d.d., Ljubljana) accounts held by the note holders, in compliance with the KDD rules. The Issuer will file with the Securities Market Agency a request for approval of prospectus for regulated trading with the notes. When the decision on the approval of prospectus is issued, the notes will he listed on the regulated market of the Ljubljana Stock Exchange, d.d., Ljubljana.

Following are the key parameters of the corporate note issue by the company Gorenje, d.d., Velenje, with the symbol GV01.

  • Notes with equal annual principal and coupon payments have a maturity of 5 years after the start of interest accrual on October 10, 2014. The principal and coupon/interest shall be due for payment each year at the end of period (recursively). The first payment shall be due on October 10, 2015; thereafter, each successive payment shall be due by October 10 of each year; the last payment shall be due upon note maturity on October 10, 2019.
  • Total face value of the corporate note issue amounted to EUR 73 million.
  • The notes are issued with nominal par value of EUR 1,000 per note. Minimum note subscription amount was EUR 10,000, or 10 notes, per subscriber.
  • Total issue includes 73,000 notes at a par value of EUR 1,000.00 per note.
  • Fixed coupon interest rate shall be 3.85% p.a.
  • There is no extra insurance or warranty regarding the notes. Settlement of liabilities and obligations pertaining to the notes is guaranteed by the issuer, against the issuer's entire assets. Until full repayment of all liabilities pertaining to the Notes, the Issuer shall not encumber his property or allow the occurrence of encumbrance of the property of the Issuer's subsidiaries.  The Issuer hereby makes a commitment to particular note holders and guarantees that throughout the period until the full repayment of the liabilities towards the note holders their claims and receivables based on the notes or related to them, payable by the issuer, are and will be at least equal (pari passu) to issuer's other non-insured receivables.

Gorenje, d.d., authorized the companies ALTA Skupina, d.d.; ALTA Invest, d.d.; Nova Ljubljanska banka, d.d., Ljubljana (Lead Managers), and Nova KBM, d.d. (Co-Lead Manager) for expert consulting and services related to the issue and sale of notes.

Disclaimer: English text for all announcements is for information purposes only!