Gide advises the Ministry of Finance on two bond issues worth EUR 3 billion

Gide’s Warsaw office assisted the State Treasury of the Republic of Poland, represented by the Minister of Finance, in connection with an offering of two series of bonds under its Euro Medium Term Notes Programme: EUR 1.75 billion in notes maturing in 2032 and EUR 1.25 billion in green bonds maturing in 2037.

Citigroup Global Markets Europe AG, Commerzbank AG, ING Bank N.V and Santander S.A. acted as joint lead managers. The issue of Polish sovereign green bonds, which will be admitted to trading on the Luxembourg Stock Exchange and displayed on the Luxembourg Green Exchange, marks the return of this type of instrument for the first time since 2019.

The proceeds of the issue of the 2032 notes will be used to finance the state budget borrowing requirements, whereas the proceeds from the 2037 green bonds will be allocated to finance eligible green expenditures, in line with Poland’s Green Bond Framework updated in June 2025.

Gide previously advised the State Treasury on the 2025 update of its EMTN Programme.

The Gide team, led by counsel Dawid Van Kędzierski, and including associate Dominik Figura was responsible for providing comprehensive support to the client.