Poland adopts bill on non-Treasury bonds
August 13, 2014
The Polish government has adopted a draft law on non-Treasury bonds, aimed at facilitating access to this form of financing and expanding the scope of available instruments, the government's press office said after the weekly cabinet sitting.
The bill includes solutions "aimed at supporting the development of long-term non-Treasury bonds," the statement reads. "Once this happens, enterprises will obtain easier access to an additional source of financing of their development."
The new legislation will also cover foreign entities and special-purpose vehicles set up in order to issue bonds, the press office said.
The scope of available bond instruments will be enlarged to include perpetual bonds and subordinate bonds, according to the press release.
The law in preparation is expected to take effect as of January 1, 2015, replacing an act dating back to 1995. Bonds issued by 2015 will be covered by the existing regulations.