Bank passed the resolution on the issue of bonds
On 15 October 2002 the Bank passed the resolution on the issue of unsecured bearer bonds.
The Bank's intention is to issue not more than 20,000,000 bonds with the nominal value of PLN 100 each and with the total nominal value of not more than PLN 2,000,000,000. The bonds will not bear interest and will be offered for sale at a discount compared to their nominal value. There will not be any non-pecuniary benefits resulting from the bond issue.
In case of the bond issue is at the highest estimated amount of PLN 2,000,000,000, the ratio of the value of the issue to the Bank's equity will amount to 116.63% and the ratio of the value of the issue and all the previously issued and unredeemed bonds to the Bank's equity amounts to 143.5%.
As at 30 September 2002 the Bank's equity amounts to PLN 1,714,876 thousand.
The Bank intends to introduce the bonds for public trading in securities and the secondary trading on the regulated market managed by Centralna Tabela Ofert S.A.