38. Debt securities in issue

In 2018 the Bank issued and redeemed securities totaling PLN 1 300 million and issued banking bonds with a nominal value of PLN 1 265 million. In 2017, the Bank issued banking bonds with a nominal value of PLN 1 320 million, and Eurobonds with a nominal value of EUR 750 million, and Eurobonds with a nominal value of CHR 400 million, and at the same time, it repurchased EUR banking bonds of EUR 200 million and PLN banking bonds of PLN 1 485 million.

The Bank held two issues of Eurobonds in 2017:

• On 18 July 2017, the Bank issued 4-year Eurobonds of EUR 750 million with the 0.75% coupon (Mid Swap+65 b.p.). The bonds are listed on the Luxembourg Securities Exchange and on the Warsaw Securities Exchange. This issue was the first one held under the new EMTN programme launched in May 2017 for a total of EUR 3 billion. The programme provides for the issue of unsecured senior Eurobonds and subordinated bonds in EUR, USD, CHF and PLN.
• On 19 October 2017, the Bank placed its Eurobonds under the EMTN programme amounting to CHF 400 million, with 4-year maturity and 0.30% coupon (Mid Swap + 58 p.b.). The bonds are listed on the Zurich Securities Exchange.

• In the Bond Issue Programme Agreement concluded with PKO Bank Polski SA, PKO Bank Hipoteczny SA issued 74 864 bonds with an aggregate nominal value of PLN 7 486 million and redeemed 69 482 bonds with an aggregate nominal value of PLN 6 948 million. Furthermore, in December 2018, it conducted an issue of unsecured bonds with a nominal value of PLN 350 million with the redemption date on 21 February 2020.
• In the Bond Issue Agreement concluded with PKO Bank Polski SA, PKO Leasing SA issued 1 286 191 bonds with an aggregate nominal value of PLN 1 286 million and redeemed 1 265 100 bonds with an aggregate nominal value of PLN 1 265 million.
• ROOF Poland Leasing 2014 DAC redeemed a total of 6 172 class A1 and A2 bonds of an aggregate nominal value of PLN 617 million for cancellation, which had been issued in a lease portfolio securitization programme.
• KREDOBANK SA issued 250 000 bonds with an aggregate nominal value of UAH 250 million and placed an additional 39 822 bonds with an aggregate nominal value of UAH 40 million (which had been bought by the company in 2017) on the market. The issues of these bonds were conducted on the basis of the prospectus approved by the Ukrainian Securities and Stock Market Commission.

• in 2018 PKO Bank Hipoteczny SA issued mortgage bonds, including:
• one foreign issue of mortgage bonds denominated in EUR, addressed to institutional investors, with an aggregate nominal value of EUR 500 million; the mortgage bonds were acquired by investors at a lower price than the nominal value (i.e. at a discount) and are listed on the stock exchanges in Luxembourg and in Warsaw,
• five domestic issues of mortgage bonds in PLN, addressed to institutional investors, with an aggregate nominal value of PLN 1 590 million; the mortgage bonds were acquired by investors at a price equal to their nominal value and are listed on the Warsaw Stock Exchange and on BondSpot.