KRUK has allotted today PLN 450m worth of Series AL4 bonds to investors. The bonds were issued under the First Prospectus-exempt Bond Issue Programme. The offering was addressed to qualified institutional investors. The price per bond is equal to the bond nominal value, i.e. PLN 1,000. The bonds bear interest at a variable rate of 3M WIBOR plus a margin of 4.65 pp per annum.
“A week ago, we unveiled record high recoveries following the initial three quarters of this year, amounting to PLN 2.3bn, along with remarkable investments close to PLN 2bn. Today, I’m proud to announce that we’re breaking new records by releasing a single bond series worth PLN 450m. We have thus emulated the largest Polish issuers, such as banks. I'd like to further emphasise that this is our second bond issue this year under the prospectus-exempt programme. The combined value of both issues totals PLN 570m. Notably, this recent offering has attracted significant interest from institutional investors, marking an all-time high for KRUK’s Polish bonds. This, in turn, resulted in a relatively modest margin increase for our unprecedented six-year bond issue. Additionally, this year we have already issued PLN 265m worth of five-year bonds through prospectus-based offerings for retail investors,” comments Piotr Krupa, CEO of KRUK S.A. “I appreciate and am grateful for the trust and support of both retail and institutional investors, particularly those who have stood by us as loyal bondholders for years. Your commitment to KRUK’s debt financing has played a substantial role in fuelling our continual growth. This year has again been marked by intensive activity and record-breaking achievements for KRUK, and we anticipate that the coming years will follow suit. Therefore, a robust and diversified access to both bank and bond financing is of paramount importance to us. We remain open to the prospect of additional bond issues, catering to both institutional and retail investors.”