Bank Zachodni WBK Zl3 billion certificates of deposit programme

Overview:

• Bank Zachodni—owned by Spanish bank Santander Group—has established a Zl3 billion ($753 million) certificates of deposit (CD) issue programme.
• The programme contemplates multiple issues in various currencies—such as Polish zlotys, euros, dollars and Swiss francs—and is addressed to institutional and retail investors.
• The transaction documentation provides for optional settlements through the National Depository of Securities (KDPW).
• The purpose of the issue of CDs will be to obtain funds for the financing of the bank’s general activities. 

Adam Majeed - Regional editor