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Haitong Bank on the attractiveness of corporate bonds in Poland

Jarosław Riopka comments about the situation of the Polish debt market for television Inwestorzy.tv

“Every year, Polish enterprises issue around 16-20 billion. The number of companies that are willing to supplement their financing structure with this debt instrument is constantly growing. In addition, every year issuers refinance their bonds or roll them off into new debt securities. Compared to the most developed countries, there is still a huge potential for the development of the Polish bond market”, says Jarosław Riopka, Vice President of Debt Capital Markets at Haitong.

According to Jarosław Riopka, the increase in the number of issuers and issues of corporate bonds in Poland results primarily from the fact that bond instruments are, generally, less restrictive and more flexible than credit instruments. “The number of bond issues is growing also, thanks to issuers already present on the market. They very often reach for bonds. We see that issuers are very happy with the flexibility of bonds and believe that this is a good complement to the company's funding structures”, adds.

In the first half of 2017, the most active issuers were the banks in the corporate bond market in terms of value. They issued bonds worth over PLN 5 billion. On the other hand, by volume, the most frequent issuers were debt companie collectors (about 60 bond issues for about PLN 1.4 billion) and real estate developers (about 50 bonds issues for about PLN 1.5 billion).