By Christine Van Dusen
Atlanta, Oct. 15 – Poland’s Powszechny Zaklad Ubezpieczen SA – through PZU Finance – priced a €350 million add-on to its existing 1 3/8% notes due July 3, 2019 (/A-/) at 99.218 to yield 1.593%, or mid-swaps plus 140 basis points, a market source said.
BofA Merrill Lynch, Deutsche Bank, Goldman Sachs International, Santander GBM and Societe Generale CIB were the bookrunners for the Regulation S deal.
The proceeds will be used for general corporate purposes, according to a filing from the company.
The total issue size is now €850 million.
PZU is a Warsaw-based insurance company.
| Issuer: | PZU Finance
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| Amount: | €350 million
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| Maturity: | July 3, 2019
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| Description: | Senior notes
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| Bookrunners: | BofA Merrill Lynch, Deutsche Bank, Goldman Sachs International, Santander GBM, Societe Generale CIB
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| Coupon: | 1 3/8%
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| Price: | 99.218
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| Yield: | 1.593%
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| Spread: | Mid-swaps plus 140 bps
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| Change of control put: | At 100
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| Trade date: | Oct. 14
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| Settlement date: | Oct. 16
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| Ratings: | Standard & Poor’s: A-
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| Distribution: | Regulation S
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