Dino Polska to increase the bond issue programme to PLN 1bn
Wpis dostępny jest także w języku: polski
Planning further investments in the development of its network, the management board of Dino Polska has decided to increase the bond issue programme established in 2017 from PLN 500m to PLN 1bn. The funds raised in this way will help diversify the sources of financing and will affect the optimisation of the company’s operating costs and will be used for the development of the chain. Thanks to the changes in the bond issue program, the Dino chain will be able to invest in the opening of new shops, which will be serviced by new distribution centres in Sieroniowice and Sierpc.
According to Dino Polska’s management, the increase of the bond issuance programme to PLN 1bn will allow diversifying the sources of financing. The funds will be used to develop both Dino’s chain of stores and the company’s distribution centres. The chain operator does not rule out issuing bonds under the programme if satisfactory conditions on the debt securities market occur. Importantly, the detailed parameters of the bonds, the maturity date, the issue value, and the interest rate will be determined in a book-building process. It will be conducted as part of the bond issue process.
Development of the proximity supermarket chain
In 2021, the Dino chain pursued its development plan by opening more shops, thus gradually increasing the sales floor area from 505,100 m2 in 2020 to 633,200 m2 this year. In 2020, there were 1,302 shops within the chain, and at the end of June 2021. Dino already operated 1,622 stores. Dino’s plans for 2021 include a 20% increase in the number of outlets opened, which entails opening more than 300 stores during the year. In the first half of 2021, Dino opened 150 new shops, a marked increase from the 84 stores opened a year earlier. In contrast, throughout 2020 Dino increased the number of its outlets by 255 stores.
Distribution centres, which play a key role in the company’s plan, are also expanding. Opened in May 2021, the centre in Sieroniowice in southern Poland is a warehouse of approximately 46,000 sqm, which includes freezers, a cold store, temperature-controlled warehouses, a dry store, an office, and social areas. A second centre located in Sierpc is also under construction and is scheduled to open in the second half of 2021. Both facilities will support between 700 and 800 Dino shops, and they might contribute to the rapid growth of the chain.