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Euronotes newly listed on Catalyst as of 22 November are part of a EUR 3 billion EMTN programme. The funds raised in the issue will allow PKO Bank Polski to diversify its sources of funding and secure further growth of lending.
“The WSE is working to make the Catalyst market a trading floor offering diverse debt instruments issued both by small and large companies, at different interest rates and risks, with various maturities and issue values, for all investors with different risk appetites and portfolio structures. The issue of PKO BP is a perfect example of the growing diversity of our offer,” said Ludwik Sobolewski, President of the Management Board of the Warsaw Stock Exchange.
Up to 16,000 notes with a total nominal value of EUR 800 million will be introduced to trading in the alternative trading system operated by the WSE and BondSpot. The notes have been listed on the Luxembourg Stock Exchange regulated market since 2010.
“As a stable financial institution with a high rating, PKO Bank Polski is very well perceived both in Poland and internationally. Our debt instruments attract strong interest on the European markets. We want to make them available also to Polish investors. We will strive to introduce each subsequent tranche of euronotes in parallel on the WSE. I am positive that this will improve the liquidity of our instruments and of the entire Catalyst market. We support the development of Catalyst both as an active market maker and the lead arranger of issues of local government bonds and corporate bonds,” said Jakub Papierski, Deputy President of the Management Board of PKO Bank Polski responsible for Investment Banking.
The interest rate on the notes is fixed at 3.733% p.a. Interest is paid annually. The notes mature on 21 October 2015 (five years after issued date) and will be redeemed together with the interest payment for the fifth interest period. The Moody’s rating of the notes is A2, outlook stable.
