Prospectus of PKO Bank Hipoteczny Has Been Submitted by the CSSF
the Luxemburg Financial Authority
- On March 24th the Commision de Survillance du Secteur Financier has submitted a new prospectus of PKO Bank Hipoteczny
- Under the International Program worth EUR 4,000,000,000, PKO Bank Hipoteczny may issue mortgage covered bonds
- This Base Prospectus is valid for 12 months from its date
“The strategic goal of PKO Bank Hipoteczny is to diversify the sources of financing of the Bank and the PKO BP Group by maintaining the ability to obtain long-term financing in the form of covered bonds. This financing is to be used for lending housing real estate. We are glad that our next issue prospectus has been approved and on its basis we will be able to carry out new issues of covered bonds.” -says Daniel Goska, President of the Management Board of PKO Bank Hipoteczny.
Mortgage covered bonds are a type of bond which are secured with mortgage loan receivables. PKO Bank Hipoteczny’s mortgage bonds are issued on the basis of solely residential mortgage loans in Polish zlotys which are granted based on conservative criteria in terms of both the assessment of creditworthiness and the valuation of the underlying real properties. The high security of PKO Bank Hipoteczny's mortgage bonds is reflected in the Aa1 rating assigned by Moody’s Investors Service in December 2020. It is the highest possible rating for Polish debt securities.
The prospectus available here
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