14/10/2016
Current Report No. 95/2016: Resolutions of the KRUK S.A. Management Board to issue unsecured bonds
The Management Board of KRUK S.A. (“Company”, “Issuer”) announces that on October 14th 2016 it passed a resolution to issue unsecured Series AA4 bonds (Resolution 1) and a resolution to issue unsecured Series AA5 bonds (Resolution 2) (“Bonds”).
The Company intends to use the issue proceeds to finance debt purchases by the KRUK Group (“Group”), refinance the Group’s debt, or finance the Group’s growth through acquisitions.
Under Resolution 1, the Company has resolved to issue up to 75,000 unsecured Series AA4 bearer bonds of the Company with a nominal value of PLN 1,000 per bond, maturing 72 months after the allotment date. Under Resolution 2, the Company has resolved to issue up to 75,000 unsecured Series AA5 bearer bonds of the Company with a nominal value of PLN 1,000 per bond, maturing 36 months after the allotment date.
The Bonds will be offered at the issue price equal to their nominal value. The Bonds will bear interest, with the rate of interest determined by the Company Management Board based on the separate resolutions. Interest on the Bonds will be payable every three months. The bonds will be issued in accordance with, and will be governed by, Polish law. The Bonds will be offered in a private placement.
They will be issued by December 31st 2016, in book-entry form. The Issuer intends to convert the Bonds to book-entry form and then to introduce them to trading in the alternative trading system on the Catalyst market.