White & Case advises PKO Bank Hipoteczny on PLN 500 million mortgage covered bonds issuance

Global law firm White & Case LLP has advised PKO Bank Hipoteczny S.A. on its PLN 500 million issuance of mortgage covered bonds due July 4, 2028 with WIBOR 3M + 0.55% floating coupon.

The transaction represents the second issuance in 2024 of PLN-denominated covered bonds under PKO Bank Hipoteczny’s €4 billion International Covered Bond Programme. The bonds are listed on the Luxembourg Stock Exchange and will be listed on the Warsaw Stock Exchange.

Erste Group AG and PKO Bank Polski S.A. acted as joint bookrunners.

White & Case also advised PKO Bank Hipoteczny on the annual update of the International Covered Bond Programme and drafting the new base prospectus, which was approved by the Commission de Surveillance du Secteur Financier on June 18, 2024.

The White & Case team which advised on the transaction included partners Marcin Studniarek (Warsaw) and Debashis Dey (Dubai & London), local partner Bartosz Smardzewski (Warsaw) and associate Michał Truszczyński (Warsaw).

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