PKO Bank Hipoteczny will issue PLN 500 million of PLN-denominated covered bonds

2018-07-25

On 27^th July 2018 PKO Bank Hipoteczny will issue PLN 500 million covered bonds with the maturity date falling on 25^th July 2025.

Spread over WIBOR 3M of 62 bps was set in the bookbuilding process which was conducted on 24^th July 2018.

PKO Bank Hipoteczny, the biggest and the most active issuer of covered bonds in Poland, offered institutional investors covered bonds with a nominal value of PLN 500 million. Their maturity date falls on 25^th July 2025. A spread over WIBOR 3M of 62 bps was set in the bookbuilding process which was conducted on 24^th July 2018. The current issue is already the fifteenth carried out by the Bank. The value of outstanding covered bonds of PKO Bank Hipoteczny as of 30^th June 2018 was above PLN 12 billion.

Paulina Strugała, CEO of PKO Bank Hipoteczny said: “This is the third time this year we are issuing covered bonds in PLN. Despite the volatile market, interest in our covered bonds in PLN, expressed by both domestic and foreign investors, is not decreasing. We are satisfied with the result. The share of foreign investors in all PLN issues goes to 17%.”

Declaration to purchase the covered bonds was submitted by 21 investors with total amount PLN 802 million.

The 9^th series of Polish zloty-denominated covered bonds is a part of PKO Bank Hipoteczny’s Covered Bond Issuance Program targeting the Polish domestic market, conducted on the basis of the Base Prospectus approved by Poland’s Financial Supervision Authority (KNF) on the 12^th of November 2015 toghether with annexes.

In December 2015 Moody’s rated PKO Bank Hipoteczny’s Covered Bonds Issuance Program Aa3 – the highest possible rating for Polish securities. This was reflected in the ratings agency’s report dated 19^th December 2017.

Covered bonds are a type of debt instruments secured by payments on mortgage loans. PKO Bank Hipoteczny’s covered bonds are secured solely by Polish zloty-denominated housing loans.

Legal disclaimer

Before gaining access to the information placed on this website please read carefully the content of the following information.

NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA.
This announcement is of a promotional nature only and does not constitute an offer or the solicitation of an offer to subscribe for or purchase of covered bonds (“Covered Bonds”) issued by PKO Bank Hipoteczny S.A. (the “Issuer”). The prospectus approved by the Polish Financial Supervision Commission (Komisja Nadzoru Finansowego) on 12 November 2015, together with any supplements and update reports thereto, and the final terms relating to the Covered Bonds, which will be published on the Issuer’s website (www.pkobh.pl) and on the website of Dom Maklerski PKO Banku Polskiego (www.dm.pkobp.pl), constitutes the only legally binding document containing information about the issuance by the Issuer of the Covered Bonds. Any investment decisions should be made on the basis of the above mentioned documents only.
The offer and the distribution of this announcement and other information in connection with the listing and offer of the Covered Bonds in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement is not an offer for sale of any securities in the United States. The Covered Bonds have not been and will not be registered in accordance with the U.S. Securities Act of 1933, as amended (Securities Act) and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. The Issuer does not intend to register any portion of any offering in the United States or to conduct a public offering of any securities in the United States.
This announcement is directed only at (i) persons who are outside the United Kingdom or (ii) persons with professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (Order) or (iii) high net worth entities, and (iv) other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons mentioned in points (i) – (iv) together being referred to as "Relevant Persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.