Report No. 13/2024

Legal basis:

Article 17.1 MAR Regulation 

the Report:

The Management Board of PKO Bank Polski S.A. (the “Bank”) informs that it decided to issue senior non preferred bonds ("Bonds") within the framework of the Programme for the issue of own bonds on the domestic market, the establishment of which was announced by the Bank in report No. 32/2011 ("Programme"). The Programme has been modified in order to allow the Bonds to be recognised as eligible liabilities of the Bank pursuant to Article 97a(1) para. 2 of the Act of 10 June 2016 on the Bank Guarantee Fund, the deposit guarantee scheme and  resolution .

The issue will be carried out under the following conditions:

1. the total nominal value of the Bonds will be up to PLN 1,000,000,000.00;
2. the redemption date of the Bonds shall be 5 years after the date of issue of the Bonds, subject to the Bank's right to early redemption of the Bonds;
3. the nominal value of one Bond will be PLN 500,000.00;
4. issue date shall be on 28 February 2024;
5. the issue price of the Bonds will be equal to their nominal value;
6. the Bonds will bear a floating interest rate equal to the sum of 6M WIBOR and the margin;
7. the Bonds will not be secured;
8. the obligations under the principal amount of the Bonds will be in category six of debt settlement, as described in Article 440 section 2 point 6) of the Act of 28 February 2003 - Bankruptcy Law;
9. the Bonds will be issued as dematerialised bearer Bonds and will be registered in the securities depository kept by Krajowy Depozyt Papierów Wartościowych S.A.;
10. the Bank will apply for the admission of the Bonds to the trading at  the Alternative Trading System of the Warsaw Stock Exchange.

The detailed terms of the issue and the exact size of each issue of Bonds will be determined at a later date, taking into account inter alia results of the book-building process among investors and the situation on the bond market. The considered time of the Bonds issue is February 2024, subject to the reservation that it depends on the situation on the bond market. The offer of Bonds will be carried out exclusively on the territory of Poland. The Bonds will be offered in a manner which shall not trigger the obligation to draw up a prospectus, as  the Bonds will be issued in accordance with Article 33 point 1) of the Act of 15 January 2015 on bonds, and proposals for the purchase of Bonds will be directed to qualified investors only within the meaning of art. 2 letter e of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market and repealing Directive 2003/71/EC.