PKO BP to prematurely buy back PLN 1.6 bln of subordinated bonds

Poland’s biggest bank, WSE-listed PKO BP will buy back subordinated bonds worth PLN 1.6 billion before their maturity. The lender will execute its call option, which allows it to buy the papers in 5 years-time since they’ve been issued. PKO BP received the proper approval from the Financial Market Authority (KNF) for the buyback. The transaction will take place on September 14, with the money to go into supplementary funds.