Bank Pekao Finalizes EUR 500 Million Senior Non-Preferred Notes Issuance
Deal News | Jun 20, 2025 | CEE Legal Matters
Allen Overy Shearman Sterling advised Bank Polska Kasa Opieki, commonly known as Bank Pekao, on its successful issuance of EUR 500 million in senior non-preferred fixed-to-floating rate notes, which are due in 2031 and carry a 3.750% interest rate. The issuance was managed by a consortium including Bank Pekao itself, along with Commerzbank, J.P. Morgan, Societe Generale, and UniCredit. Legal services for the banks were reportedly provided by Baker McKenzie. The notes were distributed to a diverse international investor base, reflecting the firm confidence in Bank Pekao and the Polish banking sector at large. The legal advisory team from A&O Shearman comprised Partner Arkadiusz Pedzich, Counsel Lukasz Walczyna, and Associate Filip Glowka from Warsaw, along with Partner Jamie Durham from London.
Sectors
- Financial Services
- Legal Services
- Capital Markets
Geography
- Poland – Bank Pekao, the target company involved in the issuance, is based in Poland. The activity and market sentiment pertain directly to the Polish banking sector.
- International – The issuance was placed with a broad base of international investors, indicating the involvement and interest of multiple geographies in this financial transaction.
Industry
- Financial Services – This sector includes services provided by the finance industry, which encompasses a broad range of businesses that manage money, including banks and investment funds. The issuance of notes by Bank Pekao pertains directly to this industry.
- Legal Services – This sector involves the provision of legal services and advice by firms and professionals. The involvement of Allen Overy Shearman Sterling and Baker McKenzie in providing legal advisory services represents this industry.
- Capital Markets – This sector involves financial markets for buying and selling equity and debt instruments. The issuance of senior non-preferred notes by Bank Pekao represents activities within the capital markets.
Financials
- EUR 500 Million – The total value of the senior non-preferred notes issued by Bank Pekao.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bank Pekao | Issuer | Company | Bank Pekao is a leading Polish bank and was the issuer of the EUR 500 million senior non-preferred notes. |
| Allen Overy Shearman Sterling | Legal Advisor for Issuer | Company | A legal firm tasked with advising Bank Pekao on the issuance of the notes. |
| Baker McKenzie | Legal Advisor for Banks | Company | Reportedly provided legal advisory services to the banks managing the issuance. |
| Commerzbank | Joint Lead Manager | Company | Part of the consortium managing the issuance of the notes. |
| J.P. Morgan | Joint Lead Manager | Company | Part of the consortium managing the issuance of the notes. |
| Societe Generale | Joint Lead Manager | Company | Part of the consortium managing the issuance of the notes. |
| UniCredit | Joint Lead Manager | Company | Part of the consortium managing the issuance of the notes. |
| Arkadiusz Pedzich | Partner | Person | Partner at A&O Shearman based in Warsaw involved in the legal advisory for the issuance. |
| Lukasz Walczyna | Counsel | Person | Counsel at A&O Shearman based in Warsaw involved in the legal advisory for the issuance. |
| Filip Glowka | Associate | Person | Associate at A&O Shearman based in Warsaw involved in the legal advisory for the issuance. |
| Jamie Durham | Partner | Person | Partner at A&O Shearman based in London involved in the legal advisory for the issuance. |