White & Case Advises Millennium Bank Hipoteczny on PLN 1 Billion Mortgage Covered Bonds Issuance

"White & Case advised Millennium Bank Hipoteczny on the issuance of PLN 1bn mortgage covered bonds under a newly established international EMTN mortgage covered bonds programme (up to EUR 3bn). The debut series was offered to institutional investors and is expected to be admitted to trading on the Warsaw and/or Luxembourg stock exchanges."

White & Case advised Millennium Bank Hipoteczny on its issuance of mortgage covered bonds. The issuance was carried out under a newly established international EMTN mortgage covered bonds programme with a total nominal value of up to EUR 3 billion. Bank Millennium–Biuro Maklerskie Banku Millennium and Dom Maklerski Banku Ochrony Srodowiska acted as joint bookrunners and Bank Millennium served as issue agent. The transaction comprised PLN 1 billion series 1 mortgage covered bonds, due 4 November 2030, carrying a floating coupon of WIBOR 3M plus 0.93%. The issuance represents the debut transaction under the bank’s international programme and is intended to diversify long-term funding sources through capital markets instruments backed by mortgage assets. The bonds were offered to institutional investors and are expected to be admitted to trading on the regulated (parallel) market of the Warsaw Stock Exchange and/or the regulated market of the Luxembourg Stock Exchange. White & Case represented Millennium Bank Hipoteczny with a team composed by: Partner Marcin Studniarek; Local Partner Bartosz Smardzewski; Associates Michal Truszczynski and Dawid Ksiazek.

White & Case Advises Millennium Bank Hipoteczny on PLN 1 Billion Mortgage Covered Bonds Issuance

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