Allen & Overy has advised the International Finance Corporation, a member of the World Bank Group, on its EUR 137 million investment in subordinated green bonds issued by Bank Zachodni WBK to expand its capital base and increase its capacity to finance climate-related projects.
This is the first green bonds issuance in Poland by a commercial bank, following the Polish government’s green bonds issuance last year, which was recognized by Climate Bonds Initiative as the first government issuance of green bonds worldwide (as reported by CEE Legal Matters on February 8, 2017). According to A&O, "with the IFC’s support, BZ WBK will be able to significantly expand its existing climate portfolio in renewable energy, green buildings, and climate-smart equipment, among others."
The Allen & Overy team was led by Partner Dan Cocker, supported by Senior Associates Maciej Dymnicki and Lukasz Walczyna andAassociate Mateusz Chodosz.
