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The Warsaw Voice » Business » June 20, 2014
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PZU insurer plans issue of up to EUR 750m eurobonds
June 20, 2014   
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Insurer PZU secured its supervisory board's OK for extending guarantees tied to an issue of up to EUR 750 million eurobonds with tenors of up to five years, the firm said in a market filing late Tuesday.

"The final decision on eurobond issue and the eurobonds' financial parameters, including their nominal value, will be set by PZU's management board after analyzing market conditions," PZU said.

The eurobonds will be issued by PZU's SPV, PZU Finance AB, the filing reads.

PZU said mid-May it would tap the eurobond market for EUR 300 to 500 million in senior debt to fund its recently secured acquisition and only later proceeding to a long sought euro-denominated subordinated debt issue which is now blocked by legal concerns.
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