KRUK allots PLN 10m worth of bonds with 50% order reduction and plans to issue PLN 120m worth of prospectus-exempt bonds

Today KRUK has announced the allotment of PLN 10m worth of Series AN2 bonds. Subscriptions totalled PLN 20.2m, entailing a 50.45% reduction of subscription orders. The bonds, issued as part of the Ninth Bond Programme, were offered to retail investors. The price per bond is equal to its nominal value of PLN 100. The bonds pay interest at a variable rate, based on 3M WIBOR plus a fixed margin of 4.0 percentage points per annum.

On December 19th 2022, the Management Board of KRUK S.A. passed a resolution to issue bonds and define the terms and conditions of the AL3 series bonds as part of 1st Prospectus-Exempt Bond Programme. The issue will be carried out by March 31st 2023, and the total nominal value of the bonds will not exceed PLN 120m.

“It has been the fifth time this year that we offered bonds to retail investors, and once again the interest exceeded the size of the offering. Investors submitted subscription orders for a total amount of PLN 20.2m, hence the 50.45% order reduction," comments Piotr Krupa, CEO of KRUK S.A. “We are glad that we can be regularly active on the retail bond market as a source of funds for further development of KRUK, which proves its value by delivering the best results on record. Our appetite to grow KRUK’s international operations is not waning. This is why we plan to raise up to PLN 120m from institutional investors through another bond issue early next year. The financing we are raising is an important booster for building a technologically advanced and modern KRUK,” adds Piotr Krupa.