2015-10-02 13:24:24

Warsaw, 30 September 2015

GPW Issues Fixed-Coupon Bonds

PRESS RELEASE

  • The Warsaw Stock Exchange (GPW) has decided to issue seven-year fixed-coupon bonds in a total amount up to PLN 125 million
  • The interest on the bonds is 3.19%, the lowest rate on long-term fixed-coupon corporate PLN bonds listed on Catalyst

The GPW Management Board has decided to issue fixed-coupon bonds to diversify funding and extend the average maturity of debt.

'The success of the issue at such a low interest rate is a proxy of strong investor confidence in the Exchange as well as the outlook of the Group and the entire market. The issue of fixed-coupon bonds ensures a fixed cost of funding of a part of our debt. We have placed the bonds at a very low margin compared to Treasury bonds,' said Paweł Tamborski, President of the Management Board of GPW.

'We expect that the issue will promote long-term fixed-coupon debt among market participants, contributing to further growth of the Polish corporate bond market,' said Karol Półtorak, Vice-President of the Management Board of GPW.

The bonds will be issued on 6 October 2015 and mature on 6 October 2022. Interest will be paid semi-annually. The fixed interest rate on the new issue GPW bonds is 3.19%, i.e., 52 basis points above the interest rate on Treasury bonds.

The Warsaw Stock Exchange has also decided to redeem and cancel part of its floating-rate bonds. The declarations of bondholders presented during the buy-back of series A and B bonds have determined the size of the new bond issue.

The Exchange is planning to introduce the new series bonds to Catalyst, which implies that two series of existing bonds maturing on 2 January 2017 and the new issue series C bonds will be traded at the same time.

***

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

distributed by