Debut of KGHM bonds on the Catalyst market

KGHM Polska Miedź S.A., one of the world’s leading producers of copper and silver, has officially inugurated the start of trading of its series C bonds on the Catalyst market, where debt instruments are traded on the Warsaw Stock Exchange. These bonds, which have a nominal value of PLN 1 billion, were issued on 26 June 2024, with maturity falling on 26 June 2031.

The Catalyst market debut ceremony was attended by representatives of KGHM: Vice President of the Management Board (Finance) Piotr Krzyżewski and Executive Director for Financial Management Jan Goździk, along with the President of the Management Board of the Warsaw Stock Exchange Tomasz Bardziłowski and Member of the Management Board of the Warsaw Stock Exchange Monika Gorgoń.

“By issuing the series C bonds we are demonstrating our commitment to the establishment of stable financial foundations, which will enable us to achieve our development goals. The success of this issuance proves that investors trust in our vision and in the future of KGHM.” – Andrzej Szydło, President of the Management Board of KGHM Polska Miedź S.A.

“The issuance conditions obtained, despite the challenges faced by the market, show that KGHM remains a strong and reliable financial partner. The Company is in the process of revising its Strategy and reviewing its capital needs; in particular we are focused on enhancing the long-term stability of the structure of financing our operations. This issuance represents a key element in the actions taken by the Management Board aimed at sustainable development and at diversifying our financing sources.” – Piotr Krzyżewski, Vice President of the Management Board (Finance) of KGHM.

The issuance of these bonds by KGHM was carried out under a bond issuance program to the maximum amount of PLN 4 billion. Interest on the series C bonds is based on WIBOR 6M plus a margin of 125 basis points. The issuance was received with great interest by investors, which enabled the company to obtain favourable financing terms that exceeded initial expectations.

The series C bonds were registered by the Central Securities Depository of Poland and were introduced to trading on the Catalyst market. The nominal value per bond amounted to PLN  1 000, which enables them to be traded subsequently by individual investors.