09/06/2016
Current Report No. 54/2016: Allotment of unsecured coupon-bearing ordinary bearer bonds of KRUK S.A.
Further to Current Report No. 47/2016 of May 25th 2016 on the issue of Series AD1 unsecured coupon-bearing ordinary bearer bonds (the ‘Bonds’) by KRUK S.A., the Management Board of KRUK S.A. (the ‘Company’) announces that on June 9th 2016 it adopted a resolution (the ‘Resolution’) declaring successful issue of the Bonds.
In the Resolution, the Company’s Management Board concluded that the Bonds issue was successful and that 50,000 Bonds had been allotted, each with a nominal value per bond equal to the issue price of PLN 1 thousand (with a total value amounting to PLN 50m).
The interest rate on the Bonds was set at 3M WIBOR plus 2.50 pp per year (the Margin). Furthermore, if the Debt Ratio, referred to in the Information Document containing the Terms and Conditions of the Series AD1 Bonds, prepared as at May 25th 2016 in connection with the private placement of the Series AD1 Bonds by KRUK S.A., exceeds 2.20, then the Margin will increase 0.50 pp per year. The increased Margin will be effective as from the Interest Period subsequent to the Interest Period in which the KRUK Group released its Consolidated Financial Statements based on which the Debt Ratio in excess of 2.20 was identified. Reduction of the Margin, previously increased by 0.50 pp per year, back to its original level will be effected if the Debt Ratio is lower than or equal to 2.20. The reduced Margin will be effective as from the Interest Period subsequent to the Interest Period in which the KRUK Group released its Consolidated Financial Statements based on which the Debt Ratio equal to or lower than 2.20 was identified.