31 Aug EBRD backs largest subordinated bond in Polish banking sector

“PKO BP raises finance for green residential loans

The EBRD has invested PLN 91.4 million (€21.4 million equivalent) in zloty-denominated subordinated bonds issued by the Polish lender PKO Bank Polski S.A. (PKO BP) as part of its PLN 1.7 billion (€400 million equivalent) bond programme.

This is the largest subordinated bond issuance by a Polish bank on the local capital market to date. It attracted a substantial order book with orders coming from over 100 investors from Poland.

The Tier II capital eligible bonds have a 10-year maturity, are callable after 5 years and will be listed on the Warsaw Stock Exchange. The bonds are compliant with the EU Capital Requirements Regulation and Capital Requirements Directive IV (commonly referred to as CRR/CRD IV or Basel III).”