Millennium to issue up to PLN 700 mln in subordinate bonds

WSE-listed Bank Millennium wants to issue up to PLN 700 million worth of subordinate 10Y bonds, at 230 bps over 6M WIBOR, pending approval from the Financial Supervision Authority KNF, the bank said in a market filing. Each paper will be valued at PLN 500,000 with maturity date set for December 7, 2027. Millenium reserves a 5-year long call option. The papers would be listed on BondSpot or on the WSE. The issue would be a part of the lender’s PLN 2 billion bond program approved in 2015.