Bond loans

Avto Union JSC issues a bond of EUR 6,800,000 on 10 December 2015. The maturity for repayment of the principal is 60 months after the date of conclusion of the issue – 10 December 2017, with interest paid at a six-month period at 6.75% annual interest.

By a general meeting of the bondholders of Avto Union JSC on 31.08.2015, a decision was made to change the terms and parameters of the issue, which consisted in changing the method of calculation of the “Interest expense cover ratio” as well as changing the interest rate from 6.75% to 5.5%.

On 08.09.2017 the General Meeting of the Bondholders of Avto Union JSC adopted a decision on new changes to the terms of the bond loan, namely:

Extension of the issue period by 60 (sixty) months as of 10.12.2017 to 10.12.2022. The maturity date of the bond issue after the change is 10.12.2022;

The principal payments on the bond issue change as follows: Payment of BGN 2 000 000. until 10.12.2022 (inclusive) and one final principal payment of BGN 4 800 000. on 10.12.2022, as set out below on point 4;

Determination of the interest coupon of the bond loan for the new term, respectively. from 10.12.2017 to 10.12.2022 of 4.5% on an annual basis;

Change of the repayment plan of the bond loan in accordance with:

Motobul Ltd issues a bond loan of 8,800 thousand BGN. The maturity for repayment of the principal is 120 months after the date of conclusion of the issue – 13.06.2028, with interest paid at a six-month period at 3.85% per annual interest.

The repayment plan of the bond loan is as follows: