KRUK allots PLN 50m worth of bonds with 52% reduction of subscriptions

Today KRUK has announced the allotment of PLN 50m worth of Series AN3 bonds. Subscriptions totalled PLN 105m, entailing a 52,28% 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.

“We are glad that KRUK has once again allocated retail bonds in the amount it offered to the market. This time, investors placed subscriptions with a total value of PLN 105m, entailing a 52,28% reduction of subscription orders,” said Piotr Krupa, CEO of KRUK S.A. “KRUK is growing its business rapidly, and as an international Group pursuing a strategy based on, among other things, technological development, it appreciates the important financial support provided by bondholders, as well as by bank loans. We want to offer debt securities on a periodic basis and use this source of financing as it drives further development of the Group while contributing to the growth of the bond market in Poland,” added Piotr Krupa.