Notes to the consolidated financial statements
Download note33. Subordinated liabilities
| Financial instruments measured at amortized cost, including: | Balance as at | Balance as at |
|---|---|---|
| 31 December 2016 | 31 December 2015 | |
| PLN’000 | PLN’000 | |
| - loans | 43 101 | 43 100 |
| - bonds | 99 717 | 98 787 |
| Total | 142 818 | 141 887 |
| Balance as at | Par value | Interest | Maturity | Balance of subordinated liabilities |
|---|---|---|---|---|
| 31 December 2016 | ||||
| PLN’000 | PLN’000 | |||
| Loans | ||||
| Poczta Polska | 43 000 | WIBOR 6M+3.25 p.p. | 15 January 2021 | 43 101 |
| Bonds | ||||
| Quoted | 50 000 | WIBOR 6M+2.80 p.p. | 8 June 2026 | 49 407 |
| Quoted | 50 000 | WIBOR 6M+3.50 p.p. | 5 October 2022 | 50 310 |
| Total | 143 000 | 142 818 |
On 8 June 2016, the Bank issued 500,000 unsecured subordinated P1 series bearer bonds with the par value of PLN 50,000 thousand. On 23 June 2016, Polish Banking Supervision Authority issued a decision approving classification of subordinated P1 series bonds as Tier II equity instruments of the Bank. The first quotation of the P1 series bonds in the Catalyst alternative trading system operated by Warsaw Stock Exchange took place on 8 September 2016.
On 8 July 2016 the Bank prematurely redeemed 4,734 subordinated bearer bonds with the total par value of PLN 47,340 thousand, assigned the code PLBPCZT00015 by National Deposit of Securities and quoted in the Catalyst alternative trading system operated by Warsaw Stock Exchange under the abbreviated name BPO0721.
Other subordinated bonds are traded in the Alternative Trading System of the Warsaw Stock Exchange (Catalyst).
| Balance as at | Par value | Interest | Maturity | Balance of subordinated liabilities |
|---|---|---|---|---|
| 31 December 2015 | ||||
| PLN’000 | PLN’000 | |||
| Loans | ||||
| Poczta Polska | 43 000 | WIBOR 6M+3.25 p.p. | 15 January 2021 | 43 100 |
| Bonds | ||||
| Quoted | 47 340 | WIBOR 6M+3.75 p.p. (until 7 July 2016) WIBOR 6M+5.25 p.p. (from 8 July 2016 until redemption) |
8 July 2021 | 48 521 |
| Quoted | 50 000 | WIBOR 6M+3.50 p.p. | 5 October 2022 | 50 266 |
| Total | 140 340 | 141 887 |
The subordinated bonds were traded in the Alternative Trading System of the Warsaw Stock Exchange (Catalyst).
Subordinated liabilities, including a subordinated loan and subordinated bonds, are unsecured instruments.