Subscriptions for Kredyt Inkaso series L1 bonds with a value of PLN 20 million will start on 12 July. The Company will offer investors a variable interest rate based on the WIBOR 3M base rate and a fixed margin of 4.7 percentage points per annum.
The L1 bond series will be offered as part of a public offering and will cover 200 thousand bonds with a maturity of four years. Investors will be offered variable interest rate based on the WIBOR 3M base rate and a fixed margin of 4.7 percentage points per annum payable on a quarterly basis. With the WIBOR 3M ratio of 7.05% recorded on 1 July this year, the projected interest in the first interest period will be double-digit and will most likely amount to over 11.7% per annum. Subscriptions for the latest series of Kredyt Inkaso bonds will start on 12 July and last until July 26 inclusive. The par value of a single bond will be PLN 100.
The issue will be conducted under the prospectus approved in August 2021 by the Polish Financial Supervision Authority. The detailed terms and conditions of the public bond issue (established in the form of the so-called final issue terms and conditions) were published on 5 July 2022 on the Company’s website (www.obligacje.kredytinkaso.pl/prospekt-emisacyjny/). The offer will be carried out by a distribution consortium consisting of: NWAI DM S.A., Michael/Ström DM S.A., Ipopema Securities S.A. and Noble Securities S.A. The funds obtained from each series will be used to finance the current operating activities and to ensure the further development of the Company.
Kredyt Inkaso Group recorded very good results in the financial year 2021/2022 closed recently. The Group’s revenues amounted to PLN 198.1 million, while the net profit was PLN 31.5 million. Last year also brought a record-breaking level of repayments, which amounted to PLN 279 million. Cash EBITDA amounted to PLN 162.1 million, and this is 34% better than in the previous year. Good results went hand in hand with a significant reduction in the level of debt, which is at levels much lower than the adopted limits, and this contributes significantly to increasing the Group’s development opportunities. The net debt to equity ratio was reduced to 0.94, and the net debt to cash EBITDA ratio to 1.79 (in the previous year it was 1.44 and 3.14, respectively).
“We greeted the financial results recorded in the last financial year with great satisfaction, and we plan to translate them into further, dynamic development of the Group. I am also sure that our good financial condition, operational efficiency, and the acyclical nature of the industry in which we operate, combined with an attractive offer based on a variable interest rate, will translate into investor interest in the issue of L1 bonds. Amid conditions of double-digit inflation, this is certainly an interesting proposition to protect capital.” – said Maciej Szymański, President of the Management Board of Kredyt Inkaso.
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.
