PKO Bank Hipoteczny, 100% owned by PKO Bank Polski, has mandated BNP Paribas, HSBC, LBBW and PKO Bank Polski as Joint Bookrunners for its potential Euro denominated, RegS Bearer, covered bond benchmark transaction backed by Polish PLN-denominated residential mortgage loans.
The issue is expected to have a long 5-year maturity and to have a rating of Aa3 by Moody's (at country ceiling level). Helaba and Raiffeisen Bank International AG will be invited as Co-managers. FCA/ICMA stabilisation applies.
On the 6th September 2017 the Commission de Surveillance du Secteur Financier in Luxembourg approved the Base Prospectus, supplemented on 12th March 2018, for PKO Bank Hipoteczny’s international covered bond programme. The programme stipulates that the covered bonds may be admitted to trading on the stock exchanges in Luxembourg and Warsaw.