Report No. 35/2017

23.08.2017 16:51
Carrying out an issue of subordinated bonds

Legal basis:

Article 17.1 of MAR – confidential information

Content of the report:

With reference to Report No. 14/2017, the Management Board of PKO Bank Polski S.A. (the “Bank”) hereby announces that, on 23 August 2017, the Bank has placed subordinated bonds (the “Issue”).

Below, the Bank provides detailed information about placed Issue:

  1. the settlement of the Issue will be carried out on August 28, 2017 (“Issue Date”),
  2. the total nominal value of the bonds will be PLN 1,700,000,000 ,
  3. the bonds will be issued under the terms of the Bonds Act of 15 January 2015, whilst the proceeds from the Issue shall, pending approval from the Polish Financial Supervision Authority’s (the “PFSA”), be used to augment the Bank’s supplementary funds under the terms of Article 127 par. 2 pt. 2 of the Banking Act of 29 August 1997, and Article 63 of the Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013. The Bank will inform in a separate report about receiving the PFSA consent to use the proceeds obtained from the issue of subordinated bonds for increasing the supplementary funds of the Bank,
  4. the Issue will be carried out in 10NC5 format, i.e., with a maturity of 10 years, whereby the Bank has the right to redeem prematurely all the shares in the Issue (the “call option”) within five years from the Issue Date, pending approval from the PFSA,
  5. the nominal value of one bond will be PLN 100,000 ,
  6. the issue price of the bonds will be equal to the nominal value of the bonds,
  7. the bonds will bear interest in half-yearly interest periods, the interest on the bonds being calculated on the nominal value according to a variable interest rate equal to the WIBOR 6M+ rate, increased by a margin equal to 155 bp. per annum throughout the Issue period,
  8. the performance under the bonds will be exclusively of a monetary kind,
  9. the bonds will be unsecured,
  10. the bonds will be in dematerialised form and are registered in the securities deposit maintained by Krajowy Depozyt Papierów Wartościowych S.A.,
  11. the Bank will apply for the bonds to be admitted to trading on the alternative trading facility maintained by BondSpot S.A. or the Warsaw Stock Exchange,
  12. projections of liabilities under the bonds until their complete redemption should be estimated on the basis of statements and information provided by the Bank as a public company, in accordance with MAR Regulation and with the Act of 29 July 2005 on Public Offering, Conditions for Introducing Financial Instruments to an Organised Trading System, and on Public Companies.

Contact for Investors

Dariusz Choryło

Director of Investor Relations
dariusz.chorylo@pkobp.pl

Investor Relations Department
ir@pkobp.pl