White & Case advises PKO Bank Hipoteczny on PLN 500 million mortgage covered bonds issuance and precedent-setting International Covered Bond Programme update

Global law firm White & Case LLP has advised PKO Bank Hipoteczny S.A. on its PLN 500 million issuance of mortgage covered bonds due October 24, 2028 with WIBOR 3M + 0.70% floating coupon.

The transaction represents the first issuance following a precedent-setting update of PKO Bank Hipoteczny’s International Covered Bond Programme, 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.

PKO Bank Polski S.A. acted as a sole bookrunner and PKO Bank Polski S.A. Oddział - Biuro Maklerskie w Warszawie acted as issue agent.

The White & Case team in Warsaw which advised on the issuance and programme update included partner Marcin Studniarek, local partner Bartosz Smardzewski and associates Michał Truszczyński and Dawid Książek.

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