Profil:
Kruk SAKruk debt collector allots PLN 400 mln in AL5-series bonds
Listed debt collector Kruk has allocated AL5 series bonds worth PLN 400 million (EUR 93.96 mln), the company said in a market filing and a press release.The unit price of the bond is equal to its nominal value and amounts to PLN 1,000 (EUR 234.90).
The issue was carried out under the First Unsolicited Bond Issue Programme and the offer was addressed to qualified institutional investors.
The bonds bear interest at a variable rate of WIBOR3M + a margin of 3.00 percentage points per annum and mature 7 years from the date of issue.
"In this offering, for the first time in Kruk's history, we offered 7-year debt securities with an interest rate of 3 percent over WIBOR3M. The issue has been met with very strong interest from institutional investors (...)," said Kruk's CEO Piotr Krupa, quoted in the press release.
"To date, we have issued bonds on the market with a total nominal value of PLN 5.5 billion, of which we have already redeemed PLN 2.5 billion," he added.
The CEO reported that the company's financial position is stable, with debt to cash EBITDA after the first quarter of 2025 at 2.6x.
"Thanks to our own funds, good access to bank financing and bond issues, we can implement Kruk's strategy for the coming years. I would like to remind that we have an open prospectus and we do not rule out issuing bonds targeted at individual investors later this year," Krupa pointed out.
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