PKO BP to issue PLN 1.7 bln bonds. Plans to buyback PLN 1.6 bln debt

Poland's largest lender, WSE-listed PKO BP decided to buy back PLN 1.6 billion in bonds issued in 2012, to be refinanced with up to PLN 1.7 billion subordinated bonds with ten year maturity and a call option after 5 years, the bank said in a market filing. “The Bank has the right to redeem prematurely all the bonds in the New Issue within five years from the issue date, pending approval from the KNF,” Pekao said.