43.2 Liabilities arising from the issue of own debt instruments

On 3 July 2014 and 16 October 2015, PZU (through its subsidiary, PZU Finance AB (publ.)), issued Eurobonds, with the redemption date of 3 July 2019. The bonds were released on the regulated market of the Irish Stock Exchange on the basis of a prospectus approved by the Central Bank of Ireland, and on the Catalyst market. The issued bonds were tap issues and formed a single series of identical parameters regarding the value of the coupon, interest periods and maturity.

The parameters of the issued bonds:

  Nominal value (in EUR million) Rate Issue dates Redemption date
Bonds of PZU Finance AB (publ.) 850 1.375% 3 July 2014 16 October 2015 3 July 2019

The bonds have been classified as measured at amortized cost.

Undiscounted cash flows from the issued debt securities 31 December 2016 31 December 2015
Up to 1 year 53 49
Over 1 year and up to 5 years 3,868 3,688
Total 3,921 3,737

The liabilities of PZU Finance AB (publ.) arising from the bonds (including the obligation for payment of the nominal value of bonds and interest on the bonds) were secured with a guarantee provided by PZU to all bondholders. The maximum value of the guarantee was not specified and it is valid upon the expiry of the claims of the bondholders towards PZU Finance AB (publ.).

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