Success of PKN ORLEN retail bond programme
One week before the end of the subscription period the number of Series E bonds subscribed for exceeded the total number of bonds on offer. All the bond issues generated considerable interest among investors, confirming the Company’s strong position in the financial markets.
“The ORLEN Group plays a vital role in the development of Poland’s economy and financial markets. That is why we readily embrace projects stimulating the Polish capital market, for example by introducing all our retail bonds to trading on Catalyst. Through such measures we also strengthen our position and build investor trust. The success of our retail bond programme is the best demonstration of that trust”, said Daniel Obajtek, CEO and President of the PKN ORLEN Management Board.
Series E bonds, totalling PLN 200m, bear interest at a variable rate based on 6M WIBOR plus a margin of 1.2%. All PKN ORLEN retail bonds have been rated by Fitch Ratings, which assigned a rating of A (pol) for the entire programme.