ČSOB approves Slovak bond issue

Czech and Slovak state privatization agencies, both shareholders of Československá Obchodní Banka (ČSOB), gave the bank the nod at the June 15 AGM to raise up to 3 billion Sk through a bond issue, ČSOB announced. The bank specified in a statement that the bonds should have a maturity of four years and be denominated in Slovak crowns. "The resources would be used for securing the liquidity of the [bank's Slovak] branch," according to the press statement.

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