It took just one day for the number of subscriptions orders placed for PKN Orlen retail bonds, with a total value of PLN 200m, to exceed the number of bonds on offer. This demonstrates investors’ strong confidence in the Company. PKN Orlen‘s intention is to place all of its debt securities issued under a programme worth PLN 1bn.
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“We have once again shown that we are a reliable and trustworthy partner. This bond issue was prepared following an analysis of market trends, and its success confirms that our offer is very well designed to meet market expectations,” said Daniel Obajtek, President of the Management Board of PKN ORLEN. “We realise that in the current situation on the financial markets PKN ORLEN bonds are an attractive alternative for investing household savings. This is why we do not rule out further issues under the current programme,” he added.
This is the third series of bonds issued under the PKN ORLEN retail debt securities issue programme where investors’ interest significantly exceeded the number of available bonds. Series C bonds, totalling PLN 200m, bear interest at a variable rate based on 6M WIBOR plus a margin of 1.2%.
It is PKN ORLEN’s intention to have the debt securities listed on the Catalyst market of the Warsaw Stock Exchange. The retail bonds have been rated by Fitch Ratings, which assigned a rating of A (pol) for the entire programme.