9 March will witness the start of subscriptions for the series I1 bonds of Kredyt Inkaso worth PLN 20 million. The Company offers investors a variable interest rate based on the WIBOR 3M base rate and a fixed margin of 4.9 percentage points per annum.
The series of I1 bonds is addressed to individual customers as part of public offering and includes 200,000 bonds with a maturity of 3 years and 7 months (scheduled maturity date: 23 October 2025). Investors are offered quarterly interest payments and a variable interest rate based on the WIBOR 3M base rate and a fixed margin of 4.9 percentage points per annum. Subscriptions for this series will last from 9 to 22 March this year, and the par value of one bond is PLN 100.
The issue is conducted under the Public Issue Prospectus approved on 26 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 7 March 2022 on the Company’s website (www.obligacje.kredytinkaso.pl/prospekt-emisacyjny/). The offering will be conducted by a distribution consortium comprised of: NWAI DM S.A., Michael / Ström DM S.A., Ipopema Securities S.A., Noble Securities S.A., Q Securities S.A. The funds obtained from each series will be used to finance the current operating activities and are aimed at ensuring the further development of the Company.
“Kredyt Inkaso, as announced, returns to the market with an offer of corporate bonds adapted to the current macroeconomic environ, characterised by high volatility. At a time of rising interest rates and higher inflation, many investors are looking for forms of investing capital that will allow them to diversify their investment portfolio. Our proposal based on a variable interest rate and a competitive margin is indeed a solution that should be of interest to this group of investors.” – said Tomasz Kuciel, member of the Management Board of Kredyt Inkaso.
Kredyt Inkaso Group recorded very high collections from debt portfolios in three closed quarters of the financial year 2021/2022. In Q3 alone (ended 31 December 2021), it reached the 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 collections translated into very good results in terms of revenues, profit achieved and debt reduction. 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 a net profit of PLN 41.1 million at the consolidated level (an increase of 134%). In turn, the debt to equity ratio at the end of Q3 of the current financial year was 0.97, and the net debt to cash EBITDA was 2.04.
“Kredyt Inkaso achieves ever better operating results and plans to purchase new portfolios, which will contribute to the further dynamic development of the entire group. Our goal is to continuously expand our business in Poland and other markets in the region while maintaining a relatively low level of debt. The favourable situation in the debt management industry and the good financial condition of the entire Kredyt Inkaso Group allow us to take an easy-going approach when it comes to the pursuit of our strategy.” – 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.
