Today, the Polish Financial Supervision Authority (FSA) approved Kredyt Inkaso’s bond prospectus with a public bond issue program worth up to PLN 300 million. The Company wants to use the proceeds from this issue as one of the sources for underwriting its continued growth.
„The capital obtained by issuing these bonds will support the execution of our strategic objectives. In the upcoming years we intend to expand our revenues systematically through organic development in our business size, i.e. increasing the value of the acquired portfolios, thereby increasing the value of recovered debts in Poland and abroad”, remarks Jarosław Orlikowski, Acting CEO of Kredyt Inkaso.
In addition, Kredyt Inkaso is positing operating margin growth in its business activity by optimizing the costs of acquiring debt portfolios and increasing profitability on the liquidation of various debt portfolios. The Company plans to focus on mass portfolios originating from various market areas, i.e. retail, mortgage, small and medium enterprises, telecommunication companies and insurance companies. The bonds in this program will be issued in series. The prospectus is slated to be published on Monday, 27 November, just as the terms and conditions of the issue of the first series of bonds. The bonds issued on the basis of the approved prospectus will be the first ones to be issued in a public offering in Kredyt Inkaso’s history; nevertheless, the company has been active on the debt security market for many years. To date, it has successfully placed 38 series of bonds with a total value of PLN 927.4 million.
At present, five series of bonds worth a total of PLN 349 million are listed on Catalyst. IPOPEMA Securities is acting as the offering agent in this program of publicly issued bonds ratified in mid September. The Gessel Law Firm is the company’s legal advisor while White & Case is the legal advisor of the offering agent.
On the Company:
Kredyt Inkaso is one of the top debt management companies in Poland, a position it has earned through a mixture of professionalism and expert advisory services. It operates effectively in five countries in Central and Eastern Europe, i.e. Poland (the first investor in bundled accounts receivable in 2001), Russia, Romania, Bulgaria and Croatia. Kredyt Inkaso is one of the few entities with competences in liquidating mortgage-backed portfolios. We also provide our partners with full service in the investment process – starting from the search for a portfolio and its valuation, through giving an opinion on its acquisition and ending with the liquidation of the portfolio plus possible buyback after a certain period of administration. People in debt will find Kredyt Inkaso to be understanding of their circumstances and will receive professional assistance from our financial advisors. Since 2007 Kredyt Inkaso SA has been listed on the main market of the Warsaw Stock Exchange.
This material is purely promotional and in no event should it form the basis for making a decision to buy the securities offered by Kredyt Inkaso S.A. (“Company”). The sole legally binding documents containing information on the Company and the public offering of the Company’s bonds issued under the bond issuance program and on the application to admit and introduce these bonds to be traded on the regulated market run by the Warsaw Stock Exchange are as follows: (i) the Company’s basic prospectus approved by the Polish Financial Supervision Authority on 24 November 2017 and (ii) the final terms and conditions for the issue of the Company’s series PA01 bonds that are provided on the Company’s website and additionally, solely for information purposes, on the website of the offering agent – IPOPEMA Securities S.A. This material is not intended for direct or indirect dissemination in the United States of America, Australia, Canada and Japan or any other nation in which that would be in violation of the law, or among residents of these nations.
Media contact:
Tomasz Danelczyk
PR & IR Consultant
tdanelczyk@tailorsgroup.pl
+48 665 885 390
