Under the resolution of the Supervisory Board of the Bank of 5 August 2019, upon request of the Management Board of the Bank, the Bank has opened a Multiannual Bond Issuance Programme (Multiannual Programme) which enables us to carry out multiple issues of unsecured bonds.
The primary parameters of the Multiannual Programme are as follows:
- total aggregate nominal value of the bonds issued under the Multiannual Programme will not exceed PLN 5,000,000,000;
- bonds may be issued in series, in the Polish zloty or in the euro, within five years from the date of entry into force of the resolution opening the Multiannual Programme;
- maturity of the bonds issued under the Multiannual Programme will be no more than ten years since issuance of the respective series of bonds;
- bonds will be issued based on the Act of 15 January 2015 on Bonds, or based on foreign law;
- bonds may be issued as:
- ordinary, unsubordinated bonds
- bonds whose liabilities may be, under Article 97(5) of the Act of 10 June 2016 on the Bank Guarantee Fund, the deposit guarantee scheme and compulsory restructuring (as amended), taken into account to calculate the minimum level of own funds and the Bank’s redeemable or convertible liabilities, or
- subordinated bonds to be equity instruments in Tier II of the Bank under Article 62(a) of Regulation (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms, amending Regulation (EU) No 648/2012 (as amended).
- bonds issued under the Multiannual Programme may be offered both in the territory of Poland and internationally;
- bonds will be offered in the territory of Poland under base prospectuses drawn up in compliance with Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) and approved by the Polish Financial Supervision Authority;
- bonds will be offered outside of Poland based on offering documents made in accordance with the requirements applicable in the country where the bonds are offered.
Detailed terms and conditions for the issue of particular series of the bonds issued under the Multiannual Programme will be set out each time by the Bank’s Management Board.
On 10 September 2019, by decision of the Management Board, a bond offering programme was established under the Multiannual Programme related to unsecured, unsubordinated or subordinated issuances of bearer bonds up to PLN 1,500,000,000. The Offering Programme will be covered by a base prospectus to be drawn up by the Bank in compliance with Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC.
Work related to the preparation of the Prospectus is in progress. The Bank will inform about the process developments on an ongoing basis.
Closing of the existing Programme of Issuance of Bonds of Alior Bank S.A.
On 5 August 2019, the Bank closed the programme of issuance of its bonds, as established by resolution no 253/2015 of the Management Board of the Bank of 29 July 2015 and approved by resolution no 54/2015 of the Supervisory Board of the Bank of 10 August 2015.
Issues and redemptions of bonds conducted by Alior Bank in 2019.
In 2019, the Bank did not conduct any issues of its own bonds. The Management Board of the Bank resolved on 4 October 2019 on early redemption on 21 October 2019 of its own bonds of Series C with a combined nominal value of PLN 80,000,000, issued on 21 October 2014 by Meritum Bank ICB SA (now Alior Bank S.A.) whose final redemption date was at 21 October 2022. These bonds were redeemed.