In a significant development within the realm of sustainable finance, global law firm White & Case LLP has played a pivotal role in advising the joint bookrunners on PKO Bank Polski S.A.’s inaugural green issuance. This transaction involved the issuance of €750 million in 3.875% senior non-preferred notes, set to mature in 2027.
Transaction Details
The joint bookrunners for this noteworthy issuance comprised a consortium of esteemed financial institutions, including Banco Santander, S.A., Erste Group Bank AG, HSBC Continental Europe, Landesbank Baden-Württemberg, and Powszechna Kasa Oszczędności Bank Polski S.A.
The notes were issued under PKO Bank Polski’s updated €4 billion Euro Medium Term Note (EMTN) Program, which received enhancements in 2024. Notably, these green notes are listed on both the Luxembourg Stock Exchange and the Warsaw Stock Exchange, reflecting a commitment to transparency and accessibility in sustainable investment.
Importantly, the net proceeds from this issuance will be directed towards financing eligible assets in alignment with PKO Bank Polski’s Green Bond Framework, underscoring the bank’s dedication to environmentally responsible initiatives.
Previous Collaborations
This issuance marks the fourth occasion on which White & Case has provided advisory services to the joint bookrunners under PKO Bank Polski’s €4 billion EMTN Program, highlighting the firm’s ongoing partnership with the bank in navigating the complexities of capital markets.
The White & Case team that contributed to this transaction included partners Marcin Studniarek from Warsaw and Stuart Matty from London, along with local partner Bartosz Smardzewski, counsel James Clarke, and associates Michał Truszczyński and Dawid Książek, all from the Warsaw office.
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