Another milion of PKN ORLEN retail bonds offered to the market
After the hugely successful sale of the third series of its retail bonds (the issue was fully subscribed on the first day of the subscription period), PKN ORLEN is again offering investors its debt securities - Series D bonds with a total value of PLN 100m. To date, the Company has issued three series of bonds worth PLN 600m in aggregate, as part of a bond issue programme for up to PLN 1bn.
The floating interest rate on the PKN ORLEN debt securities will be based on the 6M WIBOR plus a margin of 1.3% p.a. and will be payable on a semi-annual basis. The Company is planning for Series D bonds to be also traded on the Catalyst Market of the Warsaw Stock Exchange. Just like the previous issue of PKN ORLEN bonds, Series D bonds have been assigned a high rating of A-(pol) by the Fitch rating agency.
PKN ORLEN is offering another series of retail bonds primarily because of the enormous interest among investors and the fact that their demand was not fully satisfied during the previous issues. Subscription orders for the Series C bonds were placed by 1,159 investors, nearly twice as many as in the case of Series A. After order reduction, the average value of a purchase transaction will be nearly PLN 174 thousand. As shown by statistics, over 92% of the PKN ORLEN third series retail bonds were acquired by retail investors.
PKN ORLEN's partners in all four bond issues include: UniCredit CAIB Poland S.A., Dom Maklerski PKO Banku Polskiego and Bank Pekao S.A., as well as the following distributors: Centralny Dom Maklerski Pekao S.A., Dom Maklerski Pekao, Dom Inwestycyjny Xelion, and Dom Maklerski PKO Banku Polskiego.
