Warsaw Stock Exchange (GPW) Issues Bonds At Record-Low Interest Rate

• GPW has confirmed the issue value of seven-year bonds at a fixed rate of 3.19 p.a. in the maximum planned amount of PLN 125 million
• The interest rate is the lowest of all long-term fixed-coupon corporate bonds issued in PLN and listed on Catalyst

GPW has successfully completed an issue of fixed-coupon bonds and initiated the partial redemption of its floating-rate bonds financed with cash raised through the new issue. With this operation, the Exchange has secured a more optimal structure of its long-term funding.

“We have achieved the lowest interest rate on long-term fixed-coupon corporate bonds issued in PLN and listed on Catalyst. This is a very strong sign of investor confidence in GPW, its strategy and outlook,” said Karol Półtorak, Vice President of the Management Board of GPW.

The new series C bonds mature on 6 October 2022. Interest is paid semi-annually. The interest rate on the new issue GPW bonds is 3.19 per annum.

The Exchange is planning to have the new issue bonds introduced to Catalyst; consequently, the two old issue bond series maturing on 2 January 2017 and the new issue series C bonds will be traded at the same time. GPW may decide to further redeem its floating-rate bonds in 2016.

Table 1. Long-term fixed-rate corporate bonds in PLN listed on Catalyst (more at www.gpw.catalyst.pl)