The launch of the European covered bond issuance programme

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Rafał Kozłowski, CEO of PKO Bank Hipoteczny said: The programme allows us to offer covered bonds to qualified investors in the European market, where we have seen a strong demand from fund managers, banks and insurance funds for covered bonds. Through the program, we can expand and diversify our base of investors with those potentially interested to obtain our covered bonds.

Under the Programme, PKO Bank Hipoteczny may issue mortgage covered bonds in a range of currencies. The total value of outstanding covered bonds under the programme cannot exceed EUR 4 billion, and the  covered bonds have a minimum denomination of EUR 100 thousand.

The programme stipulates that the covered bonds may be admitted to trading on the stock exchanges in Luxembourg and Warsaw.

Société Générale Corporate & Investment Banking is the global coordinator and lead co-arranger of the programme. The co-arrangers include: Deutsche Bank, J.P. Morgan and PKO Bank Polski, and the dealers of the programme are: Société Générale Corporate & Investment Banking, Deutsche Bank, J.P. Morgan, PKO Bank Polski and Landesbank Baden-Württemberg.

The Base Prospectus of the covered bond issuance programme was published in electronic form on the website of the Luxembourg Stock Exchange (www.bourse.lu), as well as on the website of the PKO Bank Hipoteczny.