Transaction

DCM
07/2025

Key takeaways

Client
Our role
Joint Bookrunner
Year
2025
Deal type
DCM
Wartość transakcji

Transaction description

Trigon acted as one of nine Joint-Bookrunners in the issuance of KRUK S.A.’s 6-year unsecured bonds with a total nominal value of PLN 100 million. The AP4 series bonds (KRU0731) were issued under the company’s 11th public prospectus bond programme. Thanks to its strong market position and favorable conditions, the Issuer once again reduced its issuance margin – this time to 2.70% over 3M WIBOR, marking the lowest margin on KRUK’s bonds after 2016. The issue attracted strong interest from investors and ended with significant oversubscription – total demand reached almost PLN 300 million, resulting in a 66,6% allocation reduction. KRUK S.A. is the undisputed leader in debt management in Central Europe and the largest listed company globally in the sector by market capitalization. It is also the most frequent bond issuer on the Polish capital market – since 2019, the company has placed 32 bond series with a total nominal value exceeding PLN 3.1 billion, including 25 series issued under prospectus-based programmes.

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