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Polnord raises PLN 40m from a private bond sale

2018-06-22
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Polnord has issued three-year, unsecured bonds with a total face value of PLN 40m. The coupon is based on the floating, six-month WIBOR rate plus 450 basis points margin.

Polnord has issued three-year, unsecured bonds with a total face value of PLN 40m. The coupon is based on the floating, six-month WIBOR rate plus 450 basis points margin.   

The company has allocated to investors 4,000 series MB3 bonds, sold as part of a private offering, with a par value of PLN 10,000 each. Interest payments will be made every six months. Polnord will be able to list the bonds in the Alternative Trading System. mBank S.A. served as the Issuing Agent, the Custodian and the Dealer.  

- Corporate bonds market was ruined by one issuer. This is reflected by the balance of payments and withdrawals from corporate bond funds. Since March this year, the outflows predominate, reversing a trend seen in recent years. With the support of mBank, we have successfully sold our bond in a tough market, which for us represents a sign of trust among investors and a confirmation of our fundamental value and potential - says Dariusz Krawczyk, the CEO of Polnord.

Between January and March 2018, the Polnord Group reported sales of PLN 84.3m versus sales of PLN 12.9m in the same period last year. Gross profit on sales in 1Q 2018 totaled PLN 12.4m, with a net profit of PLN 3.3m. Strong operating cash flows meant the Group was able to generate PLN 6.4m in cash in 1Q 2018, compared to a nearly PLN 1m deficit in the same period the year earlier.

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Informujemy, że od środy 20.10
do piątku 22.10 włącznie
wszystkie Salony Sprzedaży
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