Lawyers from the capital markets practice of Gide Warsaw and Gide London have advised mBank on updating the EMTN programme, which will allow mBank to issue notes up to EUR 3 billion, including green bonds and senior non-preferred notes, as long as they meet the eligibility criteria of MREL.
In connection with updating the EMTN programme, Gide advised mBank on the approval of the prospectus by the Luxembourg-based Commission de Surveillance du Secteur Financier. The dealers for the EMTN programme are eight pan-European banks.
Gide also advised mBank on placing the first green bond issue in a senior non-preferred format for a total amount of EUR 500 million. [The proceeds from the bond issuance will be used for financing green projects in Poland.
“These changes will allow mBank to raise funds to finance its corporate-wide needs, or for other purposes, including financing for eligible projects in accordance with mBank's framework for issuing green bonds," said Michał Śmiechowski, head of the capital markets practice at Gide Warsaw.
The clients were advised in this transaction by counsel Michał Śmiechowski (Gide Warsaw), associate Przemysław Kopka (Gide Warsaw) and counsel William Oliver (Gide London). Partner Dimitrios Logizidis, head of the banking and finance practice at Gide London, supervised the English law matters.