Second series of PKN ORLEN bonds offered for sale
In response to the enormous interest in PKN ORLEN bonds on the part of investors, who subscribed to the entire PLN 200m of the first series of bonds in just two days, a second PLN 200m tranche of PKN ORLEN bonds has today been offered for sale on the same terms. PKN ORLEN expects the proceeds from the entire bond issue programme to reach approximately PLN 1bn.
The Series B bonds are being offered on the same general terms as the previous issue - they will bear interest based on the sum of 6M WIBOR and a margin of 1.5%, payable every six months. Subscriptions to the second series of PKN ORLEN retail bonds opened today, and will close on June 14th 2013. The redemption period is four years, but investors will be able to sell or buy the securities through the Catalyst market operated by the Warsaw Stock Exchange.
The issue is viewed favourably by Fitch, who has assigned it the same high rating of BBB+ as that received by the first tranche of PKN ORLEN bonds. “We seek to meet the expectations of investors who are willing to invest in our debt. This is why we decided to respond to the huge demand for our first series of bonds, by launching another on the same terms,” said PKN ORLEN CEO Jacek Krawiec.
As in the case of the first tranche, the issue price per bond will change over the duration of the offering and will depend on the day on which a subscription order is placed. The issue price will be PLN 100 on the first day and then will increase by the amount of interest accrued as of the first day of the offering.
The Company wishes to note that the only legally binding document for the public offering of PKN ORLEN bonds is the prospectus published on its website at www.orlen.pl.
PKN ORLEN retail bonds will be available at over 1,000 of our partner outlets of UniCredit CAIB Poland S.A., Bank Pekao S.A., Dom Maklerski PKO Bank Polski and DI Xelion. These institutions offer both extensive and conveniently located distribution networks as well as experience in the execution of public offerings in the Polish market, including retail offerings.
