KRUK Spólka Akcyjna : places PLN 120m of bonds with institutional...
January 04, 2023 at 11:38 am EST
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KRUK has announced today that it allotted to investors PLN 120m worth of unsecured Series AL3 bonds. The bonds were issued to qualified institutional buyers under the First Prospectus-exempt Bond Issue Programme. The price per bond is equal to the bond nominal value, i.e. PLN 1,000. The bonds bear interest at a variable rate of 3M WIBOR plus a margin of 4.5 pp per annum.
"Getting into the new year 2023 we have good news to share with regard to our financing, as we have just raised another round of funds to drive forward KRUK's growth. PLN 120m worth of six-year Series AL3bonds bearing interest at a rate of 4.5% above 3M WIBOR per year have been allotted today to qualified institutional investors. This is a third series of bonds issued under the First Prospectus-exempt Bond Issue Programme, with an upper limit increased last year to PLN 1.4bn. Compared with the Series AL2, we have extended the bond tenor from the effective 4.5 years to 6 years on account of the higher interest rate," comments Piotr Krupa, CEO of KRUK S.A. "Our investment appetite remains strong all the time. Today we are an international business focused on technological progress. The bond issue proceeds, which remain an important source of our financing alongside available lines of credit, will be used to support KRUK's consistent brand building efforts," concludes Piotr Krupa.
KRUK SA published this content on 04 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 January 2023 16:37:05 UTC.
Kruk SA is a Poland-based company, which is engaged in the business support industry. The Company is a multi-operator, which offers loss prevention and debt collection services. The Company divides its business into two main operating segments: Debt Purchase, including acquisition of non-performing debt portfolios, and Debt Collection Outsourcing, offering fee-based collection of debt on clientâs behalf, focused on consumer and corporate loans. The Company provides services to financial institutions and large corporate customers. It manages receivables of banks, credit intermediaries, leasing companies and digital platform providers, among others. The Companyâs operating activities concentrate in a number of countries, such as Poland, Romania, Czech Republic, Slovakia and Spain. The Company's subsidiaries include Kruk Deutschland GmbH, Presco Investments Sarl and Espand Soluciones de Gestion y Recuperacion de Deuda SL, among others.