White & Case has advised PKO Bank Hipoteczny on its PLN 500 million issuance of mortgage-covered bonds due October 24, 2028.
PKO Bank Polski was the sole bookrunner and PKO Bank Polski Oddzial - Biuro Maklerskie w Warszawie was the issue agent.
According to White & Case, "the transaction represents the first issuance following a precedent-setting update of PKO Bank Hipoteczny’s International Covered Bond Program, which allows it to issue PLN-denominated dematerialized covered bonds on the local market with registration in the Polish National Depository System as primary depository."
Earlier this year, White & Case advised on PKO Bank Polski’s EUR 750 million green notes issuance (as reported by CEE Legal Matters on September 24, 2024), on a PLN 500 million mortgage-covered bonds issuance (as reported by CEE Legal Matters on July 18, 2024), and on its PLN 1 billion issuance of mortgage-covered bonds (as reported by CEE Legal Matters on April 5, 2024). Moreover, White & Case advised the joint bookrunners on PKO Bank Polski’s EUR 500 million notes issuance (as reported by CEE Legal Matters on June 27, 2024) and advised the joint bookrunners on PKO Bank Polski's earlier EUR 500 million issuance (as reported by CEE Legal Matters on April 10, 2024). Finally, the firm also advised PKO Bank Hipoteczny on all three of its 2023 issuances of PLN-denominated covered bonds under its International Covered Bond Program (as previously reported by CEE Legal Matters on November 8, 2023, July 4, 2023, and February 15, 2023).
The White & Case team in Warsaw included Partner Marcin Studniarek, Local Partner Bartosz Smardzewski, and Associates Michal Truszczynski and Dawid Ksiazek.
