PZU to sell PLN 2.25 bln subordinated bonds

WSE-listed, state-owned insurer PZU will sell PLN 2.25 billion in subordinated bonds maturing at 1.8 percent over 6M WIBOR. The bonds will mature in 2027. Pricing is in line with earlier reports. The issue was possible thanks to the law signed by President Andrzej Duda, which allows insurers to incorporate subordinated bonds into capital.