Allen & Overy has advised PKO Bank Hipoteczny on the issue of green covered bonds worth PLN 250 million.
According to Allen & Overy, this is the first issue of green covered bonds by a Polish mortgage bank. The maturity of the bond has been set for September 30, 2024.
PKO Bank Hipoteczny belongs to PKO Bank Polski and specializes in mortgage loans for individual clients. These loans are offered to retail clients through Poland’s network of branches, intermediaries, and agencies. The PKO Bank Hipoteczny key task is the issuance of covered bonds, which constitute the primary source of long-term financing of loans granted by the bank that are secured by the property.
The Allen & Overy team was led by Partner Piotr Lesinski, supported by Counsel Lukasz Walczyna.