Profil:
Bank Pekao SAPekao lender to issue max. PLN 500 mln of subordinated capital bonds
Listed lender Pekao's management board has adopted resolution expressing consent to the issue of subordinated capital bonds with a planned total nominal value not exceeding PLN 500 million (EUR 120.3 mln), the bank said in a market filing. The lender's board has also adopted a resolution on early redemption of series SN1 senior nonpreferred bonds worth PLN 750 million (EUR 180.45 mln) on April 3, 2025.
The final total nominal value of the bonds may be increased in case of increased investor interest expressed in the course of book-building process. After obtaining the approval of Poland's financial market regulator KNF, the bonds will be classified as Tier 2 capital instruments.
The bonds may be issued in one or more series, with the nominal value of one bond at PLN 500,000 (EUR 120,300). They will be unsecured. Pekao will inform about the detailed terms of the issue of bonds in a separate current report. The offer of bonds will be carried out exclusively on the territory of Poland.
Pekao added in the market filing that its management board has also adopted resolution regarding the early redemption of series SN1 senior nonpreferred bonds.
The early redemption will take place on April 3, 2025, and will cover all the series SN1 SNP bonds issued, i.e. 1,500 series SN1 senior nonpreferred bonds at their nominal value, for the total amount of PLN 750 million (EUR 180.45 mln).
ao/