PKO Bank Hipoteczny announces fixed income investor meetings

2017-03-07

PKO Bank Hipoteczny, 100% owned by PKO Bank Polski, has mandated LBBW, PKO Bank Polski, Santander, SG CIB and UniCredit as Joint Bookrunners to arrange a series of fixed income investor meetings in Europe. The roadshow will take place on the 14th-17th of March 2017 in several cities of the following countries: Benelux, France, Germany, Italy, Poland, and the UK.

A Euro denominated, Reg S Bearer, Covered Bond benchmark transaction backed by Polish PLN-denominated residential mortgage loans will follow, subject to market conditions. The issue is expected to have an intermediate maturity and to have a rating of Aa3 by Moody's (at country ceiling level). FCA/ICMA stabilisation applies.

On the 28th of September 2016 the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg approved the Base Prospectus for PKO Bank Hipoteczny's European covered bond programme. The programme stipulates that the covered bonds may be admitted to trading on the stock exchanges in Luxembourg and Warsaw.

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PKO Bank Hipoteczny is 100% owned by PKO Bank Polski, Poland's largest bank, and specialises in zloty-denominated housing loans. PKO Bank Hipoteczny's main purpose is to secure long-term financing by issuing covered bonds. In August 2014, PKO Bank Polski received approval from Poland's Financial Supervision Authority to set up a mortgage bank, which began operating in April 2015.

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