Millennium Bank Hipoteczny S.A. has successfully carried out an issuance of mortgage covered bonds with a total nominal value of PLN 1 billion. The offering was directed at institutional investors and received total demand amounting to PLN 1.3 billion.
The mortgage covered bonds, issued under Millennium Bank Hipoteczny S.A.’s International Covered Bond Issuance Program, were based on the base prospectus approved by the Commission de Surveillance du Secteur Financier in Luxembourg on September 30, 2025. The bank intends to apply for the bonds to be admitted to trading on the parallel market of the Warsaw Stock Exchange and additionally on the Luxembourg Stock Exchange.
The issue date of the covered bonds was November 4, 2025, with the maturity date set for November 4, 2030. During the book-building process, conducted on October 28, 2025, the instruments were priced at 93 basis points over the 3M WIBOR rate.
The bonds were assigned a AAA rating with a negative outlook by Fitch Ratings Ireland Limited (Frankfurt am Main).
This marks the fourth issuance of covered bonds by Millennium Bank Hipoteczny S.A. In 2024, the bank issued two series of covered bonds with tenors of 3 and 5 years, and nominal values of PLN 300 million and PLN 500 million, respectively. In March 2025, the bank issued 5-year covered bonds with a nominal value of PLN 800 million. The total nominal value of the mortgage covered bonds issued and currently in circulation now stands at PLN 2.6 billion.
“This is our second issuance of covered bonds this year and the first one under the international EMTN issuance program established at the end of September. It is also the largest covered bond issuance in our history, and the highest nominal value of an institutional covered bond issuance carried out in Poland to date. We are pleased with the success of this record-breaking transaction and wish to thank our investors for their trust and our partners for their support throughout the process,” said Agata Chrzanowska, CEO of Millennium Bank Hipoteczny S.A.
The entities involved in the transaction included Bank Millennium S.A. as Organizer, Calculation Agent, and Issuing Agent; Millennium Bank Brokerage House as Dealer; and BOŚ Bank Brokerage House as an additional Dealer. Legal advisory services regarding the establishment of the international covered bond issuance program and its inaugural issuance were provided by the law firm White & Case M. Studniarek i Wspólnicy – Kancelaria Prawna sp.k.
Disclaimer: The information contained in this publication is provided for informational purposes only and does not constitute financial or any other professional advice. The content is general in nature and not directed at any specific person. Before using the information for any purpose, independent advice should be sought.
Source: ceo.com.pl
