(BRIEF) The European Bank for Reconstruction and Development (EBRD) has committed 20 million euros to participate in the first Eurobond factor through Bank Polska Kasa Opieki, commonly known as Bank Pekao, within the framework of its public placement of 500 million euros of senior bonds. non-senior bonds. -privileged bonds. These bonds will be indexed on the Luxembourg Stock Exchange and will constitute Bank Pekao’s first green and foreign bond factor. The budget raised through this issuance will strengthen Bank Pekao’s monetary resilience and diversify its financing resources. They will be allocated to finance or refinance green projects in accordance with Bank Pekao’s sustainable financing framework, fulfilling the bank’s commitment to sustainable finance in Poland. Bank Pekao has long been concerned with the sustainable finance market, providing green and sustainable debt securities to its clients and investing in these bonds. By issuing green bonds, the bank contributes to Poland’s green monetary transformation, aligning with the EBRD’s green economy transition projects in the country. Bank Pekao, a key partner of the EBRD, is one of the largest financial institutions in Central and Eastern Europe and the second largest bank in Poland, with significant retail and corporate operations. The EBRD investment supports the bank’s commitment to sustainable finance and supports the EBRD’s role as a leading institutional investor in Poland, where it has invested more than €13. 8 billion. euros in 515 projects since 1991, basically in the personal sector, with a very large percentage in monetary establishments.
(PRESS RELEASE) LONDON, November 23, 2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD) has invested €20 million in the first Eurobonds factored through Bank Polska Kasa Opieki, also known as Bank Pekao, through its public placement of €500 million of senior non-preferred bonds, indexed on the Luxembourg Stock Exchange. This is Bank Pekao’s first foreign factor and first green bond.
The new financing will contribute to Bank Pekao’s resilience and diversify its investment base. The proceeds from the bonds will be used to finance or refinance green projects, in whole or in part, under Bank Pekao’s sustainable finance framework. Bank Pekao has been actively involved in the sustainable financial market sector for years, either by arranging the issuance of green and sustainable debt securities for its clients or by acting as an investor in those bonds. By issuing green bonds, the bank has further expanded its green mandate in Poland, contributing to green monetary transformation efforts in the country.
The investment will facilitate the EBRD’s transition to a green economy in Poland.
Bank Pekao, a long-time partner of the EBRD, is one of the largest monetary institutions in Central and Eastern Europe and the second largest bank in Poland, with a leading franchise for Americans and businesses. Powszechny Zakład Ubezpieczeń (PZU) holds the largest minority stake, at 20 cents, followed by the Polish Development Fund (PFR), at 12. 8 cents, while about 50 cents of the shares are freely traded.
The EBRD is one of the largest institutional investors in Poland. Since the beginning of its operations in the country in 1991, the Bank has invested more than €13. 8 billion in 515 projects in Poland. Most of those investments have been made in the personal sector. sector, with more than 4,000 million euros invested in monetary institutions.
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SOURCE: EBRD
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