act legal covers all major European business centres.
Warsaw | Amsterdam | Bratislava | Budapest | Frankfurt | Madrid | Milan | Prague | Vienna
meet us at


Legal alert

New obligations for bond issuers

By 31 March 2020, any issuer of bonds which have not been redeemed before 1 July 2019 will be required to file, with KDPW, an electronic report of the debt owed to the holders of such bonds as at 31 December 2019.

New developments

Following the enactment of the Act on Amendment of Selected Other Acts in Connection with Measures to Strengthen Financial Market Supervision of 9 November 2018 (Ustawa z dnia 9 listopada 2018 r. o zmianie niektórych ustaw w związku ze wzmocnieniem nadzoru nad rynkiem finansowym), any issuer of bonds which have not been redeemed before 1 July 2019 will be required to file, with KDPW, an electronic report of the debt owed to the holders of such bonds as at 31 December 2019.

Details to be disclosed and report submission procedure

The report should cover:
• issue code,
• number of bonds within individual issues,
• nominal value per bond, and currency,
• bond’s annual coupon rate,
• total amount to be paid by the issuer upon bond redemption, together with its currency,
• statement on whether matured amounts have already been paid by the issuer and, if so, how much has been paid.

The obligation discussed above should be fulfilled directly by the issuer (in the case of paper-form bonds) or through a brokerage house keeping the bond register (in the case of dematerialized bonds issued before 1 July 2019).

The issuers and entities keeping a securities register have 15 days after the end of each month to provide KDPW with the above details, to be updated as of the last day of the month, if the originally reported details have changed by that time.


Any bond issuer or entity keeping a register of bonds, which fails to perform or improperly performs the obligation referred to above, is liable to a fine of up to PLN 2,000,000.00, to be paid by its agent.

LEI and issuer’s status

In order to be able to file the report with KDPW, you should have a legal entity identifier (LEI). Those who do not have a LEI should make sure to obtain it ahead of report submission, i.e. before 31 March 2020.

If you have any questions related to the issues discussed above, contact us at



Related news


act legal makes its way into Italy

act legal (a European Alliance of law firms) has grown with the joining of VFGS+ (Milan, Italy) in July 2020. act VFGS+ Avvocati is a future-oriented, experienced and dynamic team of lawyers. Its clients include private and public companies, private equity funds and fi...


Mateusz Prokopiuk makes partner at act BSWW

Mateusz Prokopiuk, attorney-at-law, has just joined the group of act BSWW’s partners. He has been with the law firm since 2012. Mateusz specializes in real estate law, real estate transactions (share and asset deals), due diligence audits, mergers, acquisitions and ...


act BSWW to move to new downtown office at Varso Place

act BSWW, one of Poland’s largest law firms and a member of the European act legal group, has leased over 2,000 square meters of the office space at Varso Place, considered among the most modern and prestigious multifunctional developments currently under construction i...


ONLINE COURSE: Register of shareholders and security interests in shares

An online training course on select practical problems from the creditors’ point of view, related to the use of security interests in shares in light of the mandatory dematerialization of shares, will be held on June 30, 2020, from 9:00 a.m. to 5:00 p.m. Participants a...


act BSWW advises Adventum International on purchase of an office building in Wrocław

Adventum International, an investment fund operating internationally, has purchased an office building located at Plac Orląt Lwowskich in Wrocław. Covering a usable area of over 17,000 sq.m., the building (“Centrum Orląt”) is located in a city center of Wrocław, nearby...

Coronavirus alert

Amendments to public procurement law in view of draft “Anti-Crisis Shield 4.0”

A draft version of the so-called “Anti-Crisis Shield 4.0” has just reached the parliament (the “Draft Bill”). It introduces further amendments to the existing special purpose act, including ones that concern the public procurement law (“PPL”). The Draft Bill amends t...

View all