CK Legal Chabasiewicz Kowalska has advised Kruk on its first EUR-denominated bond offering addressed to retail investors and, following high demand, on an additional issuance as well, for total proceeds of EUR 10 million.
Kruk operates in the debt collection industry in Poland and Central Europe and has been listed on the WSE since 2011.
According to CK Legal, “Kruk has successfully placed a bond issuance totaling EUR 5 million with a 71.15% subscription reduction. Due to high demand, Kruk S.A. has decided to issue additional series AO4EUR bonds with a total nominal value of EUR 5 million.” The bonds bear interest at a variable rate equal to three-month Euribor plus a fixed margin.
The offering of series AO3EUR and A04EUR bonds was conducted under the prospectus for Kruk’s tenth bond program, approved by the Polish Financial Supervision Authority. Under the prospectus, Kruk may issue bonds with a total nominal value of up to PLN 700 million until July 2024.
The CK Legal team included Founding Partner Wojciech Chabasiewicz and Head of Capital Markets Anita Gwozdz.