ERBD buys PLN 133 mln worth of PKO BP subordinated bonds

The European Bank for Reconstruction and Development purchased PLN 133 million worth of PKO BP subordinated bonds, from the recent PLN 1 billion issue. “We welcome the successful placement of the PKO BP bond and we are pleased to take part in this transaction. It will help PKO BP to obtain long-term financing and positively influence the capital adequacy of the bank and moreover, it will deepen and widen the capital market in Poland,” said Lucyna Stańczak, EBRD Director of EU Financial Institutions. Back in February, PKO BP sold PLN 1 billion in subordinated 10Y bonds, pricing the papers at 150 bps above WIBOR 6M.