Polski Holding Nieruchomości S.A. has successfully carried out an F-series bond issue with a total value of PLN 120 million. The bonds were offered on very attractive financial terms – the margin was reduced by 1.3 p.p. compared to the previous issue, reaching one of the lowest levels in the history of bond issues, which confirms investors’ growing confidence and a favorable assessment of PHN’s situation and prospects.

The F-series bonds were issued under a new bond issue program established by PHN in May 2026, allowing for multiple bond issues, with the total nominal value of issued and outstanding bonds not exceeding PLN 1 billion.

The issue included 120,000 F-series bonds with a nominal value of PLN 1,000 each and a total nominal value of PLN 120 million. The interest rate on the bonds was set at WIBOR 6M plus a margin of 2.5 p.p. The bonds will have a maturity of 3 years.

“The success of the F-series bond issue confirms the effectiveness of PHN Group's consistent development strategy, based on the diversification of funding sources, active balance sheet management and focus on projects with the highest potential for value growth. The financing terms we obtained boost our investment flexibility and create a solid foundation for further implementation of the Group's strategic goals, both in the commercial real estate segment and in residential and warehouse projects,” said Wiesław Malicki, President of the Management Board at Polski Holding Nieruchomości S.A.

The funds raised will be used to finance the PHN Group’s operations, including implementation of its investment program and further optimization of its financing structure.

The issue received a great deal of interest from investors. At the bookbuilding stage, investor demand for the bonds reached nearly PLN 300 million, prompting PHN to reduce subscriptions.

“Investor interest and the terms offered for the F-series bond issue confirm the growing confidence of the financial market in the PHN Group and the positive assessment of our financial standing and the strategy we are pursuing. We are also pleased that the group of our bondholders has grown to include new financial institutions, which further enhances our position in the capital market. The margin achieved, which is 1.3 p.p. lower than in the previous issue, is one of the lowest among PHN's bond issues to date. This means a significant reduction in financing costs and confirms the effectiveness of the Company's actions in the area of finance and debt management,” said Grzegorz Grotek, Management Board Member for Finance at Polski Holding Nieruchomości S.A.

The F-series bond issue is another step in PHN’s consistently pursued strategy of diversifying its funding sources and actively managing its debt structure. In recent years, PHN Group has successfully completed several bond issues and redeemed some of its debt ahead of schedule, strengthening its capital market position.

PHN will apply for the F-series bonds to be listed in the Catalyst Alternative Trading System operated by the Warsaw Stock Exchange (Giełda Papierów Wartościowych w Warszawie S.A.).

The issue was organised by a consortium of four banks, including: PKO Bank Polski S.A., Bank Pekao S.A., mBank S.A., Erste Bank Polska S.A. and Dom Maklerski BOŚ S.A. as the Series Dealer.

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About the PHN Group

Polski Holding Nieruchomości S.A. is one of the largest groups in the Polish commercial property sector in terms of the market value of its portfolio. PHN Group has a diversified business profile – it is primarily active in the office, residential and logistics markets. PHN Group’s portfolio comprises more than 150 standalone properties with a market value of approx. PLN 3.5B. PHN Group provides comprehensive rental and management services – it currently manages more than 500,000 sqm of leasable space. PHN Group owns about 270 hectares of land earmarked for projects in various market segments. PHN Group is also active in the construction sector – by providing general contracting, subcontracting and design services, as well as in the development sector as an investor – by carrying out projects related to the construction and sale of residential units and the construction of commercial buildings. PHN Group’s main market is Poland. PHN’s activities in the rental segment are concentrated primarily in Warsaw and the largest regional cities, including the Tri-City, Poznań, Kraków, Katowice, Łódź and Wrocław. Since 13 February 2013, PHN’s shares have been listed on the Warsaw Stock Exchange.