PKO Bank Polski issued three-year senior preferred bonds with a total nominal value of EUR 750 million under the EMTN Programme. The offering was intended for the European market in order to meet the minimum requirement for own funds and eligible liabilities. The bonds will be listed concurrently on stock exchanges in Luxembourg and Warsaw.
The margin on the issued bonds reached 250 bps. This has been the best valuation of securities of this type recently with respect to comparable transactions from Central and Eastern Europe. This confirms excellent condition of PKO Bank Polski,
claims Paweł Gruza, Vice-resident of the Management Board of PKO Bank Polski managing the work of the Management Board.
The three-year bonds will be listed on stock exchanges in Luxembourg and Warsaw. The issue of bonds was preceded by a series of intense talks with financial investors. The demand exceeded the final issue value three times, which was already increased in comparison to our original plans. The successfully completed issue of bond with almost 69-percent reduction in subscriptions, despite demanding market conditions, is a proof of trust to PKO Bank Polski among European investors,
said Marcin Eckert, Vice-President of the Management Board of PKO Bank Polski.
PKO Bank Polski is the undisputed leader of the Polish banking sector, and the value of its assets is PLN 439 billion. After 9 months of 2022, the bank generated a net profit of PLN 1.6 billion. The company serves 11.6 million customers. It is the basic provider of financial services for all customer segments, achieving the highest shares in the market of deposits, loans and in the market of private individuals' mutual funds. Thanks to the development of digital tools, including the IKO application, which is actively used by 7 million customers, PKO Bank Polski is the most mobile bank in Poland. The company strengthens its foreign presence through corporate branches operating in Germany, the Czech Republic and Slovakia.