KRUK has announced today it allotted PLN 50m worth of 5-year Series AM1 bonds to investors. Subscriptions totalled PLN 239m, which translated into a subscription reduction of 79%. The bonds were issued as part of the Eighth Bond Issue Programme and 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 of 3M WIBOR plus a margin of 3.4 pp per annum.
‘This was the fifth bond issue this year, and the fourth intended for retail investors. Year to date, we have raised PLN 535m on the debt securities market to fund our operations,’ noted Piotr Krupa, KRUK CEO. ‘Investor interest in this year’s latest KRUK bond issue exceeded our expectations. The demand so high we had to reduce subscriptions by 79% of total subscriptions. In the seven-year history of KRUK’s prospectus-based bond offerings, this last issue broke a new record in terms of the number of investors it attracted, totalling 1,357. It is also our second largest issue in terms of total subscription value, which amounted to PLN 239m. We greatly appreciate the trust investors place in us. Given the strong unsatisfied investor demand in this last bond issue and considering our investment needs, there is no doubt we should soon return to the market with another bond offering,’ added Mr Krupa. Operationally, we keep breaking new records, and our investments in the last nine months have reached close to PLN 1bn. We are about to enter the final weeks of a busy year and the beginning of 2022, which shows promising prospects. Our investment appetite remains strong, and apart from existing credit facilities, bond proceeds are an important source of finance for us. We will dedicate the PLN 50m we have just raised to further grow our business,’ concluded Piotr Krupa.