KRUK has announced today it allotted PLN 50m worth of 5-year Series AM2 bonds to investors. Subscriptions totalled PLN 249m, which translated into a subscription reduction of 80%. 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 3.3pp per annum.
‘It was KRUK’s first bond issue for retail investors this year. Considering the results of the December issue, we expected strong demand and, indeed, the issue was very well received by retail investors,’ commented Piotr Krupa, KRUK S.A. CEO. ‘The trust and interest of our investors was so strong we recorded a total of PLN 249m in subscriptions and had to reduce allocations by 80%. I would like to thank all investors for their trust and confidence in KRUK, and I want to assure them they are a vital source of finance for us. Also, we issued PLN 350m of non-prospectus bonds for institutional investors a few days ago. We see strong interest from banks, and we are holding active discussions with them about increasing bank financing. As you can see, the start of the year has brought some very good news for both KRUK and investors. We are set to continue to grow and build value for the Group. We actively participate in auctions to buy new portfolios. Looking at the list of potential auctions for the coming months, I would like to reassure investors it is highly likely we will come back this year with another issue,’ concluded Mr Krupa.