Following its debut on the Warsaw Stock Exchange, Bank Austria Creditanstalt (BA-CA) has established a local Short & Medium Term Bond Programme in Poland. With a volume amounting to PLN 1 billion (approx. EUR 200 million) it is the largest programme of its kind to be established by a foreign commercial bank on the Polish debt capital market. Bank Przemyslowo-Handlowy PBK acts as Sole Arranger and Dealer.
Under the programme, BA-CA is able to issue short and medium term bonds with various coupon structures with interest paid on a fixed, floating or index-based basis. Using the Polish currency, BA-CA is aiming at further diversifying its funding sources and its investor base. The establishment of the programme is regarded as a possibility to meet the demand of Polish institutional investors and to provide a suitable instrument that will fit into their investment strategies.
The bonds are governed by Polish law and will be privately placed in Poland. There is no intention to apply for admission of these bond to public trading or a listing on a stock exchange. The securities will not be rated. BA-CA’s recent ratings are “A -” (Standard & Poor’s) and “A2” (Moody’s).
The BA-CA share is also to be included in the Polish equity index WIG. The executive directors of the Warsaw Stock Exchange will pass a resolution to this effect at a meeting to be held today. The Bank Austria Creditanstalt share will be the seventh-largest component of the index, with a 3.6 per cent weighting.