Polish corporate bond market to get EUR 250m from EBRD
December 23, 2013
Polish corporate bond market can count on up to EUR 250 million support from the European Bank for Reconstruction and Development (EBRD), which is launching a new Financial Institutions Framework in Poland with the first project being PLN 100 million support for bank BZ WBK, the EBRD said in a press statement.
"The Financial Institutions Debt Capital Market Framework will have a volume of up to EUR 250 million for investments in medium to long-term senior bonds and structured finance products issued by banks and non-bank financial institutions in the next three years," the statement read.
"The aim of the framework is to contribute to the development of the Polish corporate bond market, support the diversification of medium term funding sources of participating financial institutions and improve the maturity structure of their balance sheets," the EBRD said.
The first project realized within the framework of the program will consist in the acquisition of up to 20% of senior unsecured bonds issued by BZ WBK bank for PLN 100 million (ca. EUR 24 million), the EBRD also said.