PKO Bank Polski Launches €500M Green Notes
Deal News | Jul 09, 2025 | White & Case LLP
Global law firm White & Case LLP has successfully advised the joint bookrunners managing the €500 million issuance of 3.625% senior non-preferred green notes by PKO Bank Polski S.A., due June 30, 2031. These notes are a part of PKO Bank Polski's extensive 8 billion Euro Medium Term Note Programme and are listed on both the Luxembourg and Warsaw Stock Exchanges. Proceeds from this issuance are designated to support the bank's Green Bond Framework, allocating funds towards financing eligible assets within PKO Bank Polski Group. The joint bookrunners in the issuance include major financial institutions such as BNP Paribas, Erste Group Bank AG, PKO Bank Polski S.A. itself, UBS Europe SE, and UniCredit Bank GmbH. White & Case's legal guidance was spearheaded by partners based in Warsaw and London, evidencing their pivotal role in cross-border financial transactions.
Sectors
- Financial Services
- Legal Services
- Green Financing
Geography
- Poland – PKO Bank Polski is based in Poland, and the notes will be listed on the Warsaw Stock Exchange.
- Luxembourg – The notes are also listed on the Luxembourg Stock Exchange.
- Global – White & Case LLP is a global law firm with involvement in this transaction in both Warsaw and London, showing international collaboration.
Industry
- Financial Services – PKO Bank Polski operates within the financial services industry, specifically within banking and securities issuance.
- Legal Services – White & Case LLP provided legal advisory services for the issuance, indicating the involvement of the legal services industry.
- Green Financing – The issuance of green notes is directly related to the green financing industry, emphasizing sustainable financial practices.
Financials
- €500 million – The total value of the green notes issuance by PKO Bank Polski.
- 3.625% – The interest rate of the senior non-preferred green notes.
- 8 billion Euro – The total value of PKO Bank Polski's Euro Medium Term Note Programme under which the notes were issued.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PKO Bank Polski S.A. | Issuer | Company | A leading bank in Poland and the issuer of the €500 million green notes. |
| White & Case LLP | Legal Advisor | Company | A global law firm advising the joint bookrunners on PKO Bank Polski's green notes issuance. |
| BNP Paribas | Joint Bookrunner | Company | A major international banking group participating in the issuance. |
| Erste Group Bank AG | Joint Bookrunner | Company | An Austrian banking group involved in the issuance. |
| UBS Europe SE | Joint Bookrunner | Company | A German division of UBS involved in managing the note issuance. |
| UniCredit Bank GmbH | Joint Bookrunner | Company | A German division of UniCredit involved in managing the note issuance. |
| Marcin Studniarek | Partner | Person | A partner at White & Case LLP based in Warsaw. |
| Neha Saran | Partner | Person | A partner at White & Case LLP based in London. |
| Bartosz Smardzewski | Local Partner | Person | A local partner at White & Case LLP based in Warsaw. |
| Micha Truszczyski | Associate | Person | An associate at White & Case LLP based in Warsaw. |