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White & Case Advises Polish Ministry of Finance on EUR 2 Billion Green Bonds Issuance

White & Case Advises Polish Ministry of Finance on EUR 2 Billion Green Bonds Issuance


White & Case has advised the Polish Ministry of Finance on the EUR 2 billion issuance of 10 and 30-year Euro-denominated Green Bonds, maturing on March 7, 2029 and March 8, 2049 respectively. Clifford Chance reportedly advised lead managers and bookrunners Citi, ING, J.P. Morgan, PKO BP, Santander, and Societe Generale.

The buyers of the ten-year and 30-year Green Bonds were diversified, with, respectively, 47 percent and 43 percent of the allocations going to designated green accounts. Among the buyers were asset managers, banks, insurance and pension companies, central banks and public institutions, hedge funds, and other entities. 

The EUR 1.5 billion issuance of the ten-year Green Bond yields 1.057% with an annual coupon of 1%. The EUR 500 million issuance of the 30-year Green Bond yields 2.071% with an annual coupon of 2%.

According to White & Case, the bonds were issued under the Republic of Poland's EUR 60 billion Euro Medium Term Note Program and the proceeds will finance environmental projects according to the Green Bond Framework developed by the Ministry of Finance in line with the International Capital Market Association Green Bond Principles.

The White & Case team was led by Warsaw Local Partner Andrzej Sutkowski, supported by London-based Counsel Doron Loewinger. The team also included Warsaw Associates Katarzyna Grodziewicz and Damian Lubocki and London Associate Luiza Salata.    

Poland Knowledge Partner

Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

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