PZU signs new deal for subordinate bond issue

WSE-listed insurer PZU, signed new deals with six banks to run a PLN 3 billion subordinated bond issue. The new contract adds state-owned bank BGK to the mix. The other banks include, announced back in March Pekao, BZ WBK, ING Bank Ślśski, mBank and PKO BP. An eventual issue remains “dependent upon market conditions and current demand for such type of instrument,” PZU said. The company plans to issue up to PLN 3 billion in 10-year bonds. The offer will be a private one.