Fifth series of PKN ORLEN retail bonds already on sale
PKN ORLEN has launched the fifth issue of its debt securities, addressed to retail investors and worth PLN 200m. The decision to issue Series E bonds was made based on market research, investor activity on the Catalyst market, and the huge interest generated by the first four series of PKN ORLEN bonds.
The Series E bonds will bear interest at a floating rate equal to the sum of 6M WIBOR and a 1.3% margin, with interest accruing from the first day of sale and paid semi-annually. The Series E bonds have been assigned a national rating of A- (pol) by Fitch Ratings, in keeping with the ratings awarded to the previous bond issues. The Company intends to have the Series E bonds promptly introduced to trading on the Catalyst market.
"The enormous success of our four previous bond issues proves that despite a broad range of savings programmes designed for retail investors, the market continues to show strong demand for debt securities issued by reliable, trustworthy partners. We have decided to offer 2m retail bonds in this series, and if the issue is met with similar interest as the previous ones, we do not rule out that in the near future we will finalise an entire bond programme totalling PLN 1bn," said Sławomir Jędrzejczyk, CFO and Vice-President of PKN ORLEN.
PKN ORLEN's partners in all bond issues include: UniCredit CAIB Poland S.A., Dom Maklerski PKO Banku Polskiego and Bank Pekao S.A.; distributors: Centralny Dom Maklerski Pekao S.A., Dom Maklerski Pekao, Dom Inwestycyjny Xelion and Dom Maklerski PKO Banku Polskiego; and law firms: Clifford Chance, Janicka, Krużewski, Namiotkiewicz i Wspólnicy sp.k., and Baker & McKenzie Krzyżowski i Wspólnicy sp.k.
