On 11 April 2022, the Company allocated the I1 series bonds offered on the basis of the prospectus for the amount of over PLN 17 million.
Kredyt Inkaso allocated bonds offered to individual investors for the amount of PLN 17,009,700. 242 investors acquired to 85% of unsecured bonds totalling PLN 20 million. The bonds will offer a variable interest rate of WIBOR 3M increased by a margin of 4.9 percentage points per annum. The maturity for these bonds is October 2025. The issue was conducted under the prospectus approved in 2021 by the Polish Financial Supervision Authority.
“The public offering of I1 bonds was conducted in a period featuring exceptionally high uncertainty resulting from Russia’s aggression against Ukraine and the economic sanctions imposed on Russia. As far as I am concerned, the number of subscriptions in such difficult times is a very good result. I think investors appreciated the steady improvement in the Company’s financial performance and the refinancing of F1 bonds in the meantime. The anti-cyclical nature of the debt management industry and its negligible relationship with the prices of energy carriers are also of importance. This situation translates into the invariable attractiveness of entities from our sector – even amid the current geopolitical and economic situation.” – said Maciej Szymański, President of the Management Board of Kredyt Inkaso.
The subscriptions for the bonds were conducted by a consortium of non-banking brokerage houses: NWAI (organiser), Ipopema, Michael/Ström, Noble Securities and Q Securities.
Kredyt Inkaso Group recorded high repayments from debt portfolios in three closed quarters of the financial year 2021/2022. In Q3 alone (ended 31 December 2021), it reached a repayment level of PLN 68.1 million, whereas from the beginning of the financial year – PLN 210.2 million, and this is an increase of 27% compared to the same period of the previous year. High repayments translated into very good results in terms of revenues, cash EBITDA and net profit. After three quarters at the consolidated level, net revenues amounted to PLN 161.2 million, which is an increase compared to the financial year 2020/21 by 26%. The described period also recorded an increase in cash EBITDA to PLN 122.1 million as well as an increase in net profit by 134% to PLN 41.1 million at the consolidated level.
About Kredyt Inkaso
Kredyt Inkaso was established in 2001 as a pioneer on the Polish market of debt management. Ever since, it has been constantly supporting companies and entrepreneurs in the recovery process, cooperating with banks, lenders, insurers and other entities from the consumer market. Kredyt Inkaso offers a wide range of services: from payment monitoring, through amicable collection, to court and enforcement processes.
Since 2007, Kredyt Inkaso has been present on the Warsaw Stock Exchange, and in 2018 it conducted the first public issue of bonds. In its activity, the Company follows the principle that the process of debt collection should be as easy and intelligent as possible, but first of all, it should be ethical – which is confirmed by Ethical Audit Certificates awarded annually by the Association of Financial Enterprises in Poland. The Company also pays attention to the issues related to corporate social responsibility and therefore is involved in educational or pro-social undertakings, among others.
