IFLR1000

Republic of Poland €750 million sovereign green bond issue

12/12/2016
Investment grade bond/note issue, Sovereign bond issue, Green bond issue
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€ 750 million

$ 810.387 million

Completed

12/12/2016

Overview:

  • The Republic of Poland has undertaken a €750 million sovereign green bond issue.
  • The five-year bond has a yield of between 0.65-0.75%.
  • The deal makes Poland the first country to issue a sovereign green bond, though France was the first to declare its intention in 2016 and followed suit with an issue in January 2017.
  • Under the country's recently introduced Green Bond Framework the funds from the issue can be used to fund renewable energy, clean transportation and sustainable agriculture projects.
  • HSBC, JPMorgan and PKO Bank Polski acted as joint lead managers.

Sam Duke - Editor

Read further analysis of this deal on IFLR.com

Jurisdiction:

Poland

Deal types:

Investment grade bond/note issue
Sovereign bond issue
Green bond issue

Practice area:

Capital markets : Debt

Industry sector:

Government and public policy

Firms:
Clifford Chance

Party: HSBC (Joint lead manager)

Party: JPMorgan Chase (Joint lead manager)

Party: Powszechna Kasa Oszczednosci Bank Polski (PKO Bank Polski) (Joint lead manager)

Lawyer: Grzegorz Namiotkiewicz

White & Case M Studniarek i Wspólnicy

Party: Republic of Poland (Issuer)

Lawyers: Andrzej Sutkowski, Grzegorz Abram

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