White & Case advises banks on PKO Bank Polski’s inaugural MREL €750 million notes

Global law firm White & Case LLP has advised Banco Santander, S.A., Erste Group Bank AG, Société Générale and PKO Bank Polski as joint bookrunners, and UniCredit Bank AG as global coordinator, on PKO Bank Polski S.A.’s inaugural €750 million issuance of MREL 3NC2 senior preferred notes due 2026.

It is the first notes issuance carried out under PKO Bank Polski’s €4 billion Euro Medium Term Note (EMTN) Programme, which was established in December 2022, and one of the largest EMTN programme notes issuances by a Polish financial institution.

The notes are listed on the Luxembourg Stock Exchange and will be listed on the Warsaw Stock Exchange.

The White & Case team which advised on the transaction included partners Marcin Studniarek (Warsaw) and Neha Saran (London), local partner Bartosz Smardzewski (Warsaw) and associates Anu Alamutu, Hashim Eltumi (both London), Michał Truszczyński and Dawid Książek (both Warsaw).

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