The European Bank for Reconstruction and Development has invested PLN 300 mln in zloty-denominated subordinated bonds as part of an aggregate PLN 2.25 billion issuance by Poland’s biggest insurer Powszechny Zakład Ubezpieczeń S.A., the bank said on Friday.
PZU attracted a large order book with orders coming from over 40 investors from Poland and other central and eastern European countries in what was the largest subordinated bond issuance by a Polish financial institution and the first Solvency II-compliant subordinated bond issue by an insurance company on the Polish capital market to date.
