KRUK allots PLN 60m of bonds with 23% order reduction

Today KRUK has announced the allotment of PLN 60m worth of Series AM4 bonds. Subscriptions totalled PLN 77.9m, entailing a 22.94% reduction of subscription orders. The bonds, issued as part of the Eighth Bond Issue 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 3.30 percentage points per annum.

‘This is our third retail bond issue in 2022. A total of PLN 160m was offered to investors this year under the Eighth Bond Programme. Despite the uncertainty prevailing in capital markets and the summer holiday season, investors subscribed for PLN 78m, or 130% of the maximum value of the offering. Investor interest and trust are paramount to us, and today KRUK is a strong, experienced and thriving multinational group with a forward-thinking mindset and a focus on digital transformation,’ said Piotr Krupa, KRUK CEO. ‘The retail bond market, where we have been present for eight years now, remains an important source of funding to us. At the same time, we are analysing additional financing options so that KRUK has access to diversified funding sources. Business-wise, we continue to execute our international growth strategy, focusing on the unsecured retail debt business line and further technological advancement. We already employ cutting-edge solutions, offering our customers a range of online solutions, including online debt management tools. The Group is implementing a range of innovation projects supporting our core business. The funds raised from bond issues allow us to further grow the KRUK Group internationally,’ concluded Mr Krupa.