White & Case advises Bank Ochrony Środowiska on establishing bonds and bank securities issuance programme and first issue of green bonds

Global law firm White & Case LLP has advised Bank Ochrony Środowiska S.A. (BOŚ S.A.) on the establishment of a programme for the issuance of debt securities up to the amount of PLN 1 billion and the first issuance of green bonds under the programme with a total nominal value of PLN 100 million, which may be qualified as Tier II capital of the issuer. 

The programme is distinguishable from programmes established so far by other banks with broad frameworks. Under the programme, BOŚ S.A. can issue both bonds and bank securities, which in certain situations can be included in the Tier II capital or in the minimum requirement for own funds and eligible liabilities of the bank and issued in the form of green debt under the International Capital Market Association Green Bond Principles standard.

Revenue from the bonds will be allocated to financing or refinancing green projects in accordance with the Green Debt Instruments Framework of BOŚ S.A.

The White & Case team in Warsaw that advised on the transaction included partner Grzegorz Abram, local partner Paweł Zagórski and associates Roksana Kałużna-Bałazy and Maciej Kujawa.

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