PKO BH with €500 mln bond issue

PKO Bank Hipoteczny, a mortgage unit of PKO BP, issued €500 million worth of covered bonds. “In the book-building process, over 70 investors issued declarations of purchase for the total of over EUR 800 million,” the company said in a market filing. The pricing was set 27 bps above EUR Mid-SWAP. Half of the issue (51 percent) will be purchased by German investors, while other investors will take 6-9 percent stakes. In total, investors from 16 countries will purchase the papers. “We have enlarged the group of investors and the number of countries they come from. We thus confirmed the strategy of being a regular issuer of covered bonds on the European market,” CEO of PKO BH Rafał Kozłowski said. The bonds, which mature on January 24, 2023.