KRUK allocates PLN 400 million worth of 7-year bonds to institutional investors

Today, KRUK has allotted PLN 400 million worth of Series AL5 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 3.00 pp per annum, and are due in 7 years from the issue date.

“After nearly two years, we have returned to the institutional investor market with a new bond issue worth PLN 400 million in nominal value. For me, this is a great success. For the first time in KRUK’s history, we are offering 7-year debt securities with an interest rate set at 3.00% above 3M WIBOR. The issue attracted strong demand from institutional investors. To put this in context, our previous prospectus-exempt issue took place in October 2023, when we placed 6-year bonds worth PLN 450 million at a margin of 4.65% over 3M WIBOR. In recent quarters, we have also been active among retail investors, with the most recent offering for them being 6-year bonds at a margin of 2.8% over 3M WIBOR. To date, we have issued bonds totalling PLN 5.5 billion in nominal value, of which PLN 2.5 billion has already been redeemed. I want to thank our investors for their trust and for sharing our vision for KRUK’s growth,” says Piotr Krupa, CEO and President of KRUK S.A. Management Board. “Our financial position remains stable, with debt to cash EBITDA at 2.6x at the end of Q1 2025. With our own funds, solid access to bank financing, and successful bond placements, we are well-positioned to carry out our strategic plans for the coming years. To note, we have an approved bond issuance prospectus still in effect, and we are not ruling out another offering for retail investors later this year,” adds Piotr Krupa.