On the 27th April 2018 PKO Bank Hipoteczny will issue PLN 700 million of PLN-denominated covered bonds with the maturity date falling on the 25th April 2024.
Spread over WIBOR 3M of 49 bps was set in the bookbuilding process which was conducted on 24th April 2018.
PKO Bank Hipoteczny offered institutional investors covered bonds with a nominal value of PLN 700 million with the maturity date falling on the 25th April 2024. A spread over WIBOR 3M of 49 bps was set in the bookbuilding process which was conducted on 24th April 2018.
Paulina Strugała, Deputy CEO, acting CEO of PKO Bank Hipoteczny said: “PKO Bank Hipoteczny once again confirmed being a regular issuer not only at the international but also at domestic market actively contributing to the development of Polish covered bond market.”
Declaration to purchase the covered bond was submitted by 20 investors with total amount above PLN 1 billion.
Jakub Niesłuchowski, Deputy CEO of PKO Bank Hipoteczny said: “It is the first PLN issue of PKO Bank Hipoteczny’s covered bonds this year. The large interest in our covered bonds is, above all, an expression of trust that once again was given us. We are grateful to our investors for that.”
The 7th series of Polish zloty-denominated covered bonds is a part of PKO Bank Hipoteczny’s Covered Bond Issuance Program targeting the Polish domestic market, on the basis of the Base Prospectus approved by Poland’s Financial Supervision Authority (KNF) on the 12th of November 2015.
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 the 19th of 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.
PKO Bank Hipoteczny is the biggest and the most active issuer of covered bonds in Poland. The current issue is the 13th conducted by the Bank. The value of outstanding covered bonds of PKO Bank Hipoteczny as of the 31st March 2017 was above PLN 11 billion.