KRUK issues new PLN-denominated bonds for retail investors

On 13 June 2025, KRUK published the Final Terms and Conditions of its Series AP4 Bonds. The bonds will be issued in a public offering under the 11th Bond Programme at an issue price equal to their nominal value. The issue price per bond will be PLN 100. The offering will comprise bonds with a total nominal value of PLN 80 million, although the Company may increase the total number of bonds offered to reach a maximum nominal value of PLN 100 million. The final number and total value of the bonds will be determined based on subscriptions received, after the close of the subscription period and prior to the adoption of an allocation resolution by the KRUK Management Board, on 7 July 2025. The six-year bonds will bear interest at a floating rate, based on 3M WIBOR plus a fixed margin of 2.70 percentage points per annum. The offering will be carried out by a distribution syndicate comprising: Dom Maklerski BDM S.A., Powszechna Kasa Oszczędności Bank Polski S.A. – Biuro Maklerskie, Michael / Ström Dom Maklerski S.A., Noble Securities S.A., Ipopema Securities S.A., Bank Polska Kasa Opieki S.A. – Biuro Maklerskie Pekao, Dom Inwestycyjny Xelion sp. z o.o., Dom Maklerski Banku Ochrony Środowiska S.A., and Trigon Dom Maklerski S.A. The bonds will exist in book-entry form and the Company will apply for their admission to trading on the Catalyst regulated market operated by the Warsaw Stock Exchange.

“This is our second retail bond offering this year. Back in February, we saw significant investor interest, with subscriptions scaled back by 76%, and we are hopeful for a similarly strong response this time around. Appreciating the trust our investors have placed in us so far and with KRUK’s ongoing business needs in mind, we are launching this new retail bond offering with a total nominal value of PLN 80 million under our 11th Bond Programme. Just like in the February issue, we’re open to increasing the offering size up to a total of PLN 100 million if demand for our new six-year AP4 Series bonds is high. The subscription period will run from 18 June through 4 July,” comments Piotr Krupa, founder and CEO of KRUK S.A. “We also enjoy very solid access to bank financing and just at the start of June we completed a PLN 400 million bond issue targeted at institutional investors.  We are expanding our presence across Europe’s largest markets within our industry, and the funds we raise are a key enabler of our strategic goals for 2025–2029.”

The offering of Series AP4 Bonds will be conducted under the Base Prospectus for the 11th Bond Programme, which was approved by the Polish Financial Supervision Authority on 18 September 2024. Within its framework, KRUK may issue bonds with a total nominal value of up to PLN 900 million until September 2025 (including the bonds issued as part of Series AP1, AP2 and AP3). The Final Terms and Conditions of Series AP4 Bonds are available on the Company’s website at https://pl.kruk.eu/relacje-inwestorskie/obligacje/emisje-obligacji.

This material has been prepared for promotional (advertising) purposes only. The only legally binding documents containing information on the Issuer and the Public Offering of Series AP4 Bonds are the Base Prospectus for the 11th Bond Programme, published on 19 September 2024 (the “Prospectus”), including its supplements and updates, and the Final Terms and Conditions of Series AP4 Bonds, published on 13 June 2025 (the “Terms and Conditions”). The Prospectus is available on the Issuer’s website at https://go.kruk.eu/peo_xi, and the Final Terms and Conditions are available at https://go.kruk.eu/OWE_AP4. For information purposes, the Prospectus and the Terms and Conditions can also be found on the Investment Firm’s website at www.bdm.pl.

Approval of the Prospectus by the Financial Supervision Authority should not be construed as an endorsement of the Series AP4 Bonds. Prospective investors should read the Prospectus thoroughly before making an investment decision, to fully understand the potential risks and rewards associated with investing in the Series AP4 Bonds. In particular, investors are advised that the Series AP4 Bonds are not bank deposits and are not covered by the deposit guarantee scheme. In the event of the Issuer’s insolvency, due to a deterioration in its financial condition, such as a loss of liquidity or changing capital market conditions, part or all of the invested capital may be lost, and holders of Series AP4 Bonds may not receive the payments outlined in the Final Terms and Conditions. Given these risks, investors should carefully assess whether an investment in Series AP4 Bonds is suitable for them, and whether their investment portfolio is sufficiently diversified. Subscription orders for Series AP4 Bonds will be received by the Investment Firm, i.e. Dom Maklerski BDM S.A. and members of the distribution syndicate.

This communication and its contents are not intended for direct or indirect distribution in, or to residents of, the United States of America, United Kingdom, Australia, Canada or Japan, or any country where its publication, announcement or distribution would be illegal.

This document is not a securities note or communication of sufficient information on the terms of purchase or subscription for any securities enabling an investor to decide whether to purchase or subscribe for such securities, nor does it constitute or form part of, and should not be construed as, an offer to purchase or subscribe for, or solicitation of an offer to purchase or subscribe for, any securities.