Warsaw-listed Santander Bank Polska will issue privileged bonds with a total value of up to PLN3.1bn (€710mn), the Spanish-owned bank said in a market filing on November 20.
The settlement of the issue is scheduled for November 29th, and the bonds will be redeemed on November 30th, 2026, Santander Bank Polska also said.
Each bond will have a nominal value of PLN 500,000, and the issuance price will be equal to the nominal value.
The bonds will bear variable interest, determined by the sum of the 6-month WIBOR deposit rate and a margin of 1.80% per annum.
The returns from the bonds will be solely in cash, and the bonds will not be secured. The bank will apply for the bonds to be listed on the alternative trading system operated by the Warsaw Stock Exchange.
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