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Summary of PKN ORLEN retail bond issue costs


​PKN ORLEN has made a final calculation of the aggregate costs incurred to carry out its retail debt securities programme. In the programme of six bond series, the Company offered investors a total of 10,000,000 bonds with a nominal value of PLN 100 per bond.
The Company's invitation to invest in fixed- and variable-rate securities with maturities of four to six years was tailored to diverse investor expectations and attracted huge demand as a sign of investors' unfailing interest in debt securities from credible issuers. The aggregate costs of prospectus preparation, bond issue preparation and execution and marketing campaign totalled approximately PLN 8.3m, compared with PLN 1bn raised in proceeds, with an annual unit issue cost of PLN 0.20 per bond. Considering the total amount of borrowing and execution costs, raising capital through a bond offering on the public market in Poland proves to be a wise choice of financing source.
PKN ORLEN's partners in all bond issues included: UniCredit CAIB Poland S.A., Dom Maklerski PKO Banku Polskiego and Bank Pekao S.A.; distributors: Centralny Dom Maklerski Pekao S.A., Dom Maklerski Pekao, Dom Inwestycyjny Xelion and Dom Maklerski PKO Banku Polskiego; and law firms: Clifford Chance, Janicka, Krużewski, Namiotkiewicz i Wspólnicy sp.k., and Baker & McKenzie Krzyżowski i Wspólnicy sp.k.

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