Alior to issue PLN 400 mln subordinated bonds

WSE-listed lender Alior Bank plans to sell up to PLN 400 million of subordinated bonds in a private placement issue. The papers will mature in 8 years and will offer variable rate based on WIBOR 6M. The company hopes to issue bonds in October pending market situation. Alior received approval from the Financial Market Authority KNF to classify them as Tier II capital. The issue is likely to take place in October. Last month, the lender’s supervisory board approved a PLN 1.2 billion bond program.