Current Report No. 4/2020: Resolution of the Management Board on issue of bonds under the Sixth Public Bond Issue Programme

Further to Current Report No. 8/2019 of March 11th 2019 on the launch sixth Public Bond Issue Programme (the 'Programme'), the Management Board of KRUK S.A. (the 'Issuer' or 'Company') announces that on March 9th 2020 it passed a resolution on the issue of Series AJ2 bonds ('Bonds') and determination of their final terms and conditions. The Bonds are covered by the base Prospectus approved by the Polish Financial Supervision Authority on July 5th 2019, available from the Company's website: www.kruksa.pl.
The issue will comprise up to 300.000 unsecured bearer Bonds in book-entry form, which will be offered in a public offering. The Issuer will seek to introduce the Bonds to trading on the regulated Catalyst market operated by the Warsaw Stock Exchange.
In compliance with Art. 54.3 of the Public Offering Act, the Company announces that the Bonds will be offered at the issue price equal to their nominal value of PLN 100 per bond, and that their total nominal value will not exceed PLN 30m. The Bonds will bear interest at a variable rate equal to 3M WIBOR (the rate charged for three-month borrowings denominated in PLN on the Polish interbank market) plus a fixed margin of 3.5 percentage points.
The Company will redeem the Bonds on April 3rd 2025, with the provision that the Issuer will have the right to early redeem all or a part of the Bonds at its own option. The Company also reports that pursuant to Art. 24.1 of the Public Offering Act information on the detailed terms and conditions of the Bonds will be published on the Issuer's website www.kruksa.pl.