Poland’s Pekao bank approves Eurobond issue programme worth up to €5bn

By bne IntelliNews November 2, 2023

Poland’s state-controlled bank Pekao, the country’s second-largest lender by assets, has approved a Eurobond issue programme to sell up to €5bn in medium-term notes, the bank said in a market filing on October 31.

The Eurobonds can be issued in euros, Polish zlotys, or other currencies in any number of tranches, with different interest rate structures and maturities, Pekao said. They can also be issued as green or sustainable bonds, the bank said.

The Eurobonds issued under the programme will be offered and sold outside the United States to, or for the account or benefit of, non-US persons.

Pekao will have the option to seek admission for individual series of Eurobonds to official listings on the Luxembourg Stock Exchange and trading on regulated markets conducted by LuxSE, Luxembourg Green Exchange, the Warsaw Stock Exchange, or another entity operating a regulated market.

The issuance of each series of the Eurobonds under the EMTN Programme must be approved by separate resolutions of the Management Board, Pekao said.

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