On June 10th 2021, KRUK allotted 700,000 Series AK3 ordinary bearer bonds with a total nominal value of PLN 70m. Subscriptions opened on May 24th and closed on June 8th 2021. It was the Company’s third and this year’s second prospectus-based issue carried out under its 7th Bond Programme. Subscriptions for KRUK’s 5-year unsecured bonds with an annual fixed interest rate of 4.0% totalled PLN 97.5m, with the reduction rate at 28.2%.
‘The recently closed issue of KRUK bonds again attracted strong interest from retail investors. We have an over 20-year history of success and industry experience, we made a strong start into the year, and we are pleased to see investors continue to trust us. The issue was KRUK’s largest prospectus-based bond issue in five years, dedicated specifically to retail investors. Our investment needs are rising, and we can see this coincides with growing demand for bonds issued by high-quality companies,’ notes Piotr Krupa, KRUK CEO. ‘We are among the least levaraged companies in our industry globally. We have enough room on the balance sheet, and by issuing debt securities we diversify KRUK’s sources of funding. Tapping into internally generated funds, we aim to significantly increase our investments in debt assets this year, primarily in Poland, but also in other countries where we have a presence. We want to stay active in the market for retail bonds, and we may carry out further bond issues,’ concluded Mr Krupa.