White & Case advises PKO Bank Hipoteczny on establishing national program for issuance of mortgage-backed bonds

Global law firm White & Case LLP has advised PKO Bank Hipoteczny S.A. (PKO Bank Hipoteczny) on the establishment of a national program for the issuance of mortgage-backed bonds with a total value of PLN 10 billion and on the preparation of the base prospectus, which was approved by the Financial Supervision Commission on 29 August 2025.

Under this program, mortgage-backed bonds may be offered to retail investors and institutional investors, and will be subject to submission for listing and trading on the parallel regulated market conducted by the Warsaw Stock Exchange.

The organiser of bond issuances under the national program is Powszechna Kasa Oszczędności Bank Polski S.A. The investment company is Powszechna Kasa Oszczędności Bank Polski S.A. Oddział – Biuro Maklerskie w Warszawie.

This is the second program that White & Case has advised PKO Bank Hipoteczny on, following an international program for the issuance of mortgage-backed bonds with a value of €4 billion.

The White & Case team which advised on the transaction included partner Marcin Studniarek, local partner Bartosz Smardzewski and associates Michał Truszczyński, Dawid Książek and Klaudia Pacocha (all in Warsaw).

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