White & Case has advised joint lead managers Banco Santander, Erste Group Bank, Landesbank Baden-Wuerttemberg, PKO BP, and UniCredit Bank on PKO Bank Hipoteczny’s EUR 500 million issuance of mortgage-covered bonds. Reportedly, Allen & Overy advised PKO Bank Hipoteczny.
The bonds were issued under PKO Bank Hipoteczny’s EUR 4 billion program for issuing bonds on international markets. The program was approved by the Commission de Surveillance du Secteur Financier in Luxembourg on September 28, 2016. The minimum denomination of mortgage bonds is EUR 100,000 and they can be issued under the program in any currency. The bonds, which have a June 25, 2025, maturity date were issued on July 4, 2022, and will be listed on both the Luxembourg Stock Exchange and the Warsaw Stock Exchange.
The White & Case team included Warsaw-based Partner Marcin Studniarek, Local Partner Bartosz Smardzewski, and Associate Dawid Ksiazek, with further team members in Dubai and London.