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The Warsaw Voice » Business » December 1, 2017
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Banks to issue more bonds
December 1, 2017   
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Polish listed banks will likely be issuing more subordinated bonds in the near future as the recent financial market watchdog's KNF recommendation raised the requirements for dividend payouts at the TCR level, DM Citi Handlowy analyst Andrzej Powierza tells the daily Rzeczpospolita.
Millennium and Idea Bank are the latest financial institutions that decided to issue subordinated bonds following the successful issuances by a number of Poland's leading banks, the daily observes. Millennium will issue PLN 700 million in subordinated bonds as bank debt has become a coveted form of investment on the market, head of investor relations Artur Kulesza says.
The bank plans to apply for a consent to include the issuance to its supplementary funds with a view to paying a dividend from 2018 gains, he explains. Idea Bank eyes its up to PLN 200 million issuance as a means to reinforce its capital basis, spokesperson Katarzyna Siwek says.
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