KRUK issued 7 year bonds with a 2.5 p.p. margin with a total value of PLN 600 million

KRUK has today allocated PLN 600 million worth of Series AL6 bonds. The bonds were issued under the First Prospectus-Exempt Bond Issue Programme and the offering was addressed exclusively to qualified investors who are not natural persons. The price per bond is equal to the nominal value of the bond, i.e. PLN 1,000. The bonds bear a floating interest rate of WIBOR 3M plus a margin of 2.50 p.p. per annum. The maturity date of the AL6 bonds falls on 4 April 2033. In KRUK’s history, this is the largest single bond issuance, with the longest maturity and a record-low margin.

“Despite the currently challenging international environment and high market volatility, we decided to proceed with the bond issue. Its success is evidenced by investor demand exceeding PLN 1 billion within a pricing range of 2.3–2.7 p.p. above 3M WIBOR. Ultimately, we issued bonds with a total value of PLN 600 million, with the longest maturity of over seven years and at the lowest margin in KRUK’s history for comparable instruments, i.e., 2.5 p.p. above 3M WIBOR. Orders in the bookbuilding process were placed by 125 investors and we attracted new significant long-term investors,” says Michał Zasępa, CFO of KRUK S.A. “I would like to sincerely thank investors for the trust they place in us, particularly in such uncertain times. Compared to the previous prospectus-exempt issue, we reduced the margin cost by 0.5 p.p. while executing a record-sized issuance. This demonstrates KRUK’s resilience to the geopolitical situation and at the same time confirms its strong position as a reliable issuer. It is worth noting that, in line with the announcements made at the beginning of March, we plan to early redeem Series AL3 bonds with a total nominal value of PLN 120 million on 7 April 2026. The progress in the implementation of the 2025–2029 strategy to date indicates that the chosen direction is sound, and the funds obtained from bondholders enable the pursuit of our ambitious objectives.”