EBRD invests PLN 80 mln in PKO BH's covered bonds

The European Bank of Reconstruction and Development has invested PLN 80 million in covered bonds of PKO Bank Hipoteczny. The mortgage unit of state-controlled lender PKO BP has launched its second issue of variable-rate benchmark covered bonds. The total value amounts to PLN 500 million, the bank informed. A book-building for the benchmark issue of the 5-year papers took place on June 14, while subscriptions were held on June 15. Demand amounted to PLN 681.5 million, of which 75 percent came from domestic investors. The issue date was set for June 17. Bonds are expected to debut on June 29.