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KRUK opens subscriptions for additional euro-denominated bond series

KRUK has allocated €10 million of AO5EUR series bonds as part of its third offering of euro-denominated bonds to retail investors.

Subscriptions amounted to 22.8 million euros, with a reduction in subscription orders of 56%. The board of directors of KRUK has decided to subsequently issue a further series of euro-denominated bonds under the approved bond program prospectus.

From 5 February to 9 February 2024, subscription will be open for the next series, namely the AO6EUR Series. The bonds will be issued through a public offering under the Tenth Bond Program at an issue price equal to their nominal value.

The issue price per bond is EUR 100 and the total principal value of the Series is EUR 14 million. The bonds bear interest at a variable rate, based on the 3-month Euribor® plus a fixed margin of 4.0 percentage points per year.

Piotr Krupa, KRUK S.A. CEO said “We have seen an immense interest in our euro-denominated bonds in the Polish market. Investors’ appetite for investing in the KRUK bonds aligns with our business needs in the coming months, prompting the decision to proceed with an additional EUR 14m worth issue. The subscription period will commence on 5 February and end on 9 February 2024” . “We are leveraging this opportune moment in our international expansion, and our position in the major European continues to strengthen. We are growing steadily, focusing on improving our operational and technological processes. Our efforts are recognised by investors and our financing banks, so we encounter no obstacles in securing funding for our further growth.”

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