General information
Covered bonds are registered or bearer securities issued by a mortgage bank and secured by its loans. PKO Bank Hipoteczny issues covered bonds denominated in Polish złoty or in foreign currencies.
Safety of covered bonds
Covered bonds are characterised by their high level of safety and low investment risk, primarily because the loans that are the basis for issues of covered bonds are properly secured.
The cover pool
The mortgage bank maintains a registry of the collateral for the covered bonds, in which it lists the receivables, rights and means that constitute the cover pool for the issue of covered bonds, as well as the funds that constitute the buffer for the six months of forward interest payments.
Green Covered Bonds
Green Covered Bonds are type of covered bonds where the proceeds will be exclusively applied to finance or re-finance, in part or in full, new and/or existing eligible green projects.
Domestic Programme of Covered Bond Issuance
PKO Bank Hipoteczny S.A. has established a National Programme for the Issue of Mortgage Covered Bonds up to the amount of PLN 10,000,000,000. Covered bonds may be listed on the parallel regulated market of the Warsaw Stock Exchange.
International Programme of Covered Bond Issuance
On 4 August 2016, PKO Bank Hipoteczny SA established an International Covered Bond Programme in the amount of EUR 4,000,000,000. PKO BH covered bonds are listed on the Luxembourg Stock Exchange or on the parallel market regulated by the Warsaw Stock Exchange.