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Bank Pekao SABank Pekao completes subscription of EUR 500 mln Tier 2 Eurobonds, reduction rate at 64.93 pct
Listed lender Bank Pekao has completed the subscription of EUR 500 million in subordinated Tier 2 Eurobonds maturing on February 27, 2036, the bank said in a statement. The allocation reduction rate for the single tranche amounted to 64.93 percent.
The notes will be issued under Pekao's EMTN medium-term note programme and are to be admitted to trading on the regulated markets of the Luxembourg Stock Exchange and the Warsaw Stock Exchange, and listed on the Luxembourg Stock Exchange's Official List.
The subscription covered 5,000 Eurobonds, while orders were placed for 14,259, resulting in a 64.93 percent reduction rate. The bonds will be issued at 100 percent of their nominal value.
The margin underpinning the coupon has been set at 155 basis points.
The Eurobonds will have a tenor of 10 years and 3 months, with an issuer call option after 5 years and 3 months.
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