A series of investor meetings scheduled across Europe

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An inaugural Reg S mid-term maturity, Euro-denominated fixed rate covered bond benchmark, backed by Polish-Zloty-denominated residential mortgage loans and with a provisional rating of Aa3 assigned by Moody's will follow, subject to market conditions.

On 28 September 2016 the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg approved the Base Prospectus for PKO Bank Hipoteczny’s European covered bond programme. The total value of outstanding covered bonds under the programme is up to EUR 4 billion, and the covered bonds have a minimum denomination of EUR 100,-000. The programme stipulates that the covered bonds may be admitted to trading on the stock exchanges in Luxembourg and Warsaw.

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PKO Bank Hipoteczny is 100% owned by PKO Bank Polski, Poland’s largest bank, and specialises in zloty-denominated housing loans. PKO Bank Hipoteczny’s main purpose is to secure long-term financing by issuing covered bonds. In August 2014, PKO Bank Polski received approval from Poland’s Financial Supervision Authority to set up a mortgage bank, which began operating in April 2015.