White & Case Advises Polish Ministry of Finance on €2 Billion Green Bonds Issuance
Global law firm White & Case LLP has advised the Polish Ministry of Finance on the €2 billion issuance of ten- and 30-year euro-denominated 'Green Bonds', maturing respectively on March 7, 2029 and March 8, 2049.
The €1.5 billion issuance of the ten-year Green Bond yields 1.057% with an annual coupon of 1%. The €500 million issuance of the 30-year Green Bond yields 2.071% with an annual coupon of 2%.
The bonds were issued under the Republic of Poland's €60 billion Euro Medium Term Note Programme, and the proceeds will finance environmental projects according to the Green Bond Framework developed by the Ministry of Finance in line with the ICMA Green Bond Principles.
The buyers of the ten-year and 30-year Green Bonds were well diversified with, respectively, 47 percent and 43 percent of the allocations going to designated green accounts.
The White & case team which advised on the transaction was led by local partner Andrzej Sutkowski (Warsaw), with support from counsel Doron Loewinger (London) and associates Katarzyna Grodziewicz, Damian Lubocki (both Warsaw) and Luiza Salata (London).
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