The Management Board of KRUK S.A. has adopted a resolution to establish a public bond issue programme with a par value of up to PLN 150m. The bonds will be issued in one or several series for an unlimited number of investors. The Company has already filed the issue prospectus with the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego), and expects the first series of bonds to be available for purchase within the next few months.
The terms and conditions of the issue will be included in the issue prospectus and in the detailed terms and conditions of each issue of bonds, although it is already known that the bonds will be unsecured and that the maturity period of each series will not exceed 60 months from allotment.
KRUK is highly active on the non-public bonds market. To date, the company has issued unsecured bonds with a par value of nearly PLN 800m, of which approximately one third have matured. Bonds issued by KRUK have been bought mainly by financial institutions and a small group of individual investors.
"Our non-public issues meet with considerable interest among investors, and bondholders always ask if we’re planning to organise subsequent issues. Growing interest in KRUK's bonds, the will to broaden the group of individual investors, and the diversification of financing sources have had the most profound influence on our decision to commence work on this public bond issue," said Piotr Krupa, President of the Management Board of KRUK S.A.