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- KNF has approved an annex to the GPW bond prospectus which defines the margin
- The margin on the series D and E bonds is 0.95 percent.
On 21 December 2016, the Polish Financial Supervision Authority (KNF) has approved Annex 2 to the prospectus of the Warsaw Stock Exchange which defines the margin on GPW bonds. The series D and E bonds will bear interest at a floating rate equal to the WIBOR 6M reference rate plus a margin of 0.95 percent p.a.
The total nominal value of both series will be up to PLN 120 million and the individual value of each series up to PLN 60 million. Series D bonds will be addressed to institutional investors and series E bonds in the first place to retail investors. Interest will be paid semi-annually. Interest on series D bonds and interest on series E bonds will be payable on the dates set in the terms of issue of each bond series defined in the bond prospectus. The bonds are due for redemption on 31 January 2022.
The bookrunner is the investment firm Pekao Investment Banking S.A. The lead arrangers are Bank Pekao SA and Pekao Investment Banking S.A. The co-arrangers are Bank Handlowy w Warszawie S.A. and Dom Maklerski Banku Handlowego S.A. The distribution consortium of the GPW bonds addressed to retail investors is comprised of: Centralny Dom Maklerski Pekao S.A., Dom Maklerski Pekao, Dom Inwestycyjny Xelion sp. z o.o., Dom Maklerski Banku Handlowego S.A., Biuro Maklerskie Alior Banku S.A., and Dom Maklerski PKO Banku Polskiego S.A.
The legal basis of the GPW bond issue is Article 33(1) of the Bond Act of 15 January 2015 (Journal of Laws of 2015, item 238), the Act on Public Offerings and Terms of Introducing Financial Instruments to the Organised Trading System and on Public Companies of 29 July 2005 (consolidated text: Journal of Laws of 2016, item 1639, as amended), and Resolution No. 1058/2016 of the GPW Management Board of 13 October 2016 concerning the issue of series D and E bearer bonds. ***
Warsaw Stock Exchange (GPW) is the biggest securities exchange in Central and Eastern Europe. GPW operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. GPW is developing Catalyst, a market for issuers of corporate and municipal bonds, as well as commodity markets. Since 9 November 2010, GPW is a public company listed on Warsaw Stock Exchange. For more information visit http://www.gpw.pl/.
