March 20, 2018 / 3:56 PM / a month ago

BRIEF-BZ WBK to issue 1 bln zlotys of 10-year subordinated bonds

March 20 (Reuters) - Bank Zachodni WBK SA (BZ WBK):

* Polish bank BZ WBK has decided to issue 10-year floating-rate subordinated bonds worth 1 billion zlotys ($290 million), the bank says in statement

* Proceeds from bond issue to be used to increase supplementary capital of the bank

* Bonds to have call option that will allow BZ WBK to redeem the bonds after 5 years of issue date, given consent of Polish financial regulator KNF

* Bonds to pay interest equal to the Polish 6-month interbank rate WIBOR increased by 1.6 percentage point

* BZ WBK to list the bonds on Polish Catalyst market Source text for Eikon: Further company coverage: ($1 = 3.4441 zlotys) (Reporting by Marcin Goettig Editing by Alexander Smith)

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