KRUK allots PLN 50m of bonds with 68% order reduction

Today KRUK has announced the allotment of PLN 50m worth of Series AN4 bonds. Subscriptions totalled nearly PLN 156m, entailing a 68% reduction of subscription orders. The bonds, issued as part of the Ninth Bond 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 4.0 percentage points per annum.

“Our Series AN4 bonds have attracted strong investor demand, with subscriptions totalling PLN 156m. I greatly appreciate the trust investors place in KRUK. This year, as part of our prospectus-based debt offerings for retail investors, we have already issued bonds with a total nominal value of PLN 100m. Let me also remind you that in the first half of this year we have raised PLN 120m from institutional bondholders and EUR 150m under the Swedish law bond framework. In addition we have been expanding lines of bank credit available to KRUK, and on this front we can announce  a new agreement for a PLN 50m revolving credit facility signed with Alior Bank, our new banking partner.  We keep working to boost our access to financing to enable KRUK's continued growth," comments Piotr Krupa, CEO of KRUK S.A. “This year we are celebrating our 25th anniversary – we started as a three-person team, and now we are ranked among leading international players of the debt collection industry. Thanks to our investors, we are able to solidify our market position while delivering excellent results,” adds Piotr Krupa.