PZU sells PLN 2.25 bln in 10Y subordinated bond

WSE-listed, state-owned insurer PZU sold PLN 2.25 billion in 10-year subordinated bonds at 180 bps over 6M WIBOR. They will be listed on the WSE-owned platform, either BondSpot or Catalyst. The papers will be callable in 5 years. The European Bank for Reconstruction and Development (EBRD) has invested PLN 300 million in the issue.