Potencjalne korzyści oraz negatywne konsekwencje emisji obligacji podporządkowanych
Potential benefits and negative consequences of issuing subordinated bonds

Summary/Abstract: Purpose – The aim of the article is to assess the potential benefits and negative consequences of issuing subordinated bonds for issuers and for bondholders. The scope of the article also includes an analysis of changes in the corporate bond market in Poland caused by the introduction of subordinated bonds together with the new Act on bonds, which has been effective since 1 July 2015. Design/methodology/approach – The most important research method used to achieve the purpose of the article is a critical review of the literature and legal acts regarding bonds. The method of observation and logical reasoning was also used. Findings – The article demonstrated that the potential benefits for issuers and bondholders outweigh the negative consequences of issuing subordinated bonds. Originality/value – This article is a publication devoted to subordinated bonds, the added value of which is identification of benefits and risk factors of this type of debt instruments.

• Details
• Contents