Further to Current Report No. 94/2015 of December 30th 2015 on the launch Third Public Bond Issue Programme (the “Programme”), the Management Board of KRUK S.A. (the “Issuer” or “Company”) announces that on September 19th 2016 it passed a resolution on the issue of Series AB4 bonds (“Bonds”) and determination of their final terms and conditions, including the issue price and number of Bonds to be issued. The Bonds are covered by the base Prospectus approved by the Polish Financial Supervision Authority on February 4th 2016, available from the Company’s website: www.kruksa.pl.
The issue will comprise up to 350,000 unsecured bearer Bonds in book-entry form, which will be offered in a public offering. The Issuer will seek to introduce the Bonds to trading on the regulated Catalyst market operated by the Warsaw Stock Exchange.
In compliance with Art. 54.3 of the Public Offering Act, the Company announces that the Bonds will be offered at the issue price equal to their nominal value of PLN 100 per bond, and that their total nominal value will not exceed PLN 35m.
Net proceeds from the issue will be used in accordance with the objectives of the Bond Issue Programme.
The Bonds will bear interest at a variable rate equal to 3M WIBOR (the rate charged for three-month borrowings denominated in PLN on the Polish interbank market) plus a fixed margin of 3.15 percentage points.
The maturity period of the Bonds is 60 months from the allotment date, with the proviso that the Issuer will have the right to early redeem all or a part of the Bonds at its own option, but no earlier than six months from the allotment date. The Issuer’s Management Board will decide at its own discretion whether to call any of the Bonds early. The Bondholders will have no right to call for early redemption, except in situations referred to in Art. 74.2, Art. 74.4 and Art. 74.5 of the Act on Bonds of January 15th 2015, i.e. in the event of the Issuer’s failure to timely fulfil, in whole or in part, its obligations under the Bonds, in the event of the Issuer’s merger with another entity, its division or transformation of its legal form, if the entity which has assumed the Issuer’s obligations under the Bonds is not authorised to issue bonds, or in the event of the Issuer’s liquidation.
The Bonds will only confer the rights to cash payments.
The Management Board states that as at the last day of the quarter immediately preceding the offering of the Bonds, i.e. as at June 30th 2016, the Issuer’s liabilities totalled PLN 1,270m, including liabilities under borrowings and other debt instruments of PLN 1,229m, and past due liabilities of PLN 0m
Projects to be financed with proceeds from the issue of the unsecured Bonds will be comparable to similar projects undertaken by the Company to date.
The Company also reports that pursuant to Art. 24.1 of the Public Offering Act complete information on the detailed terms and conditions of the Bonds issued under the Programme (Final Terms and Conditions of the Bonds) will be published on the Issuer’s website www.kruksa.pl and additionally on the website of the Offeror, Dom Maklerski BDM S.A. www.bdm.pl, as well as of Dom Maklerski PKO Banku Polskiego S.A. www.dm.pkobp.pl
- KRUK S.A.
- Mission, vision and values
- KRUK Group structure
- Board, Supervisory Board and GM
- Code of Best Practices of Companies Listed
- Corporate documents
Learn more about KRUK Group core business and strategic objectives
Shareholding structure of the KRUK S.A.
Become familiar with the mission and vision of KRUK Group, as well as with the values the Group embraces in its contacts with the customers, business partners, co-workers, and shareholders.
See the KRUK Group structure
Learn more about authorities of the KRUK Group
Learn more about milestones in the history of the KRUK Group
Learn more about the associations the joint-stock companies of KRUK Group belong to in Europe ans the U.S.
Learn more about Code of Best Practices of Companies Listed on the Warsaw Stock Exchange
See the corporate documents of KRUK S.A.
See annual and quarterly reports of the KRUK Group
See selected current reports of the KRUK Group
List of recommendations and external reports about KRUK group
See financial data by year and generate an interactive chart
See financial data by quarter and generate an interactive chart