PKO Bank Hipoteczny Secures €500 Million in Covered Bonds
Deal News | Jul 02, 2025 | White & Case LLP
Global law firm White & Case LLP has successfully advised PKO Bank Hipoteczny S.A. on issuing €500 million worth of mortgage covered bonds, marking the largest international issuance by a Polish mortgage bank this year. Launched under a €4 billion programme, these four-year bonds are backed by PLN-denominated residential mortgages and listed on Luxembourg's regulated market. The issuance, coordinated by UniCredit and jointly managed by several major banks, marks PKO Bank Hipoteczny's first euro-denominated issuance in three years. White & Case's team included key figures from Warsaw and Dubai.
Sectors
- Financial Services
- Legal Services
Geography
- Poland – PKO Bank Hipoteczny is a Polish bank, making Poland a relevant geography in this transaction.
- Luxembourg – The covered bonds are listed on the Luxembourg Stock Exchange, making it significant to the geography of the issuance.
Industry
- Financial Services – The issuance of mortgage covered bonds involves financial services, particularly banking and lending operations.
- Legal Services – Global law firm White & Case LLP provided advisory services, indicating involvement in legal consultancy in finance.
Financials
- €500 million – The value of the mortgage covered bonds issuance.
- €4 billion – The total size of PKO Bank Hipoteczny's international mortgage covered bond programme.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PKO Bank Hipoteczny S.A. | Issuer | Company | A Polish bank issuing the mortgage covered bonds. |
| White & Case LLP | Legal Advisor | Company | A global law firm advising on the bond issuance. |
| UniCredit | Global Coordinator & Joint Lead Manager | Company | Served as the Global Coordinator and one of the joint lead managers for the bond issuance. |
| Danske Bank | Joint Lead Manager | Company | Served as a joint lead manager for the bond issuance. |
| LBBW | Joint Lead Manager | Company | Served as a joint lead manager for the bond issuance. |
| PKO Bank Polski SA | Joint Lead Manager | Company | Served as a joint lead manager for the bond issuance. |
| Santander | Joint Lead Manager | Company | Served as a joint lead manager for the bond issuance. |
| Marcin Studniarek | Partner/Team Leader | Person | Based in Warsaw, led the legal team from White & Case. |
| Debashis Dey | Partner | Person | Based in Dubai, part of the legal team from White & Case. |
| Bartosz Smardzewski | Local Partner | Person | Based in Warsaw, part of the legal team from White & Case. |
| Micha Truszczyski | Associate | Person | Based in Warsaw, associate in the legal team from White & Case. |
| Ola Sanni | Associate | Person | Based in Dubai, associate in the legal team from White & Case. |