PZU Finance €350 million 1.375% notes issue

Overview:

• PZU—the largest insurance group in Central and Eastern Europe—has issued bonds of a total nominal value of €350 million, which was the only non-sovereign Eurobond issuance out of Poland in 2015.
• The bonds bear interest at the fixed rate of 1.375% per annum, and were listed on the regulated market of the Irish Stock Exchange on the basis of an issue prospectus approved by the Central Bank of Ireland. 
• The bonds were assimilated with a previous bond issuance made by PZU Finance and create a single series of bonds with a nominal value of €500 million.
• The consortium of banks that were involved included Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs, Santander and Societe Generale.

Adam Majeed - Regional editor