mBank’s Update of its EMTN Programme and €500 Million Green Bond Issue

Gide advised mBank on the transaction. Clifford Chance advised Commerzbank.

mBank has finalized changes to the EMTN program, under which mBank has the ability to issue up to a maximum of € 3,000,000,000 of bonds, including green bonds and senior non-senior bonds, that meet MREL’s eligibility criteria.

As part of the changes to the EMTN program, Gide advised mBank on the approval of the prospectus by the Luxembourg Financial Sector Supervisory Commission. The dealers of the EMTN program are 8 pan-European banks. Gide also advised mBank on the placement of the first green bond issue in the form of senior non-privileged bonds for a total amount of 500 million euros.

The Gide team consisted of Michal Smiechowski (Photo), counsel, and Przemyslaw Kopka, associate, in the Warsaw office, as well as William Oliver, counsel, in the London office. Dimitrios Logizidis, partner, responsible for banking and financial practice in the London office supervised the English law project.

The Clifford Chance team working on the transaction included Grzegorz Namiotkiewicz (Partner, Co-Head of the Warsaw Banking and Finance Department), David Dunnigan (Partner), Eric Green (Senior Associate), Aleksandra Rudzinska (Senior Associate), Zuzanna Bartczak and Krzysztof Burda.

Involved fees earner: Zuzanna Bartczak – Clifford Chance; David Dunnigan – Clifford Chance; Eric Green – Clifford Chance; Grzegorz Namiotkiewicz – Clifford Chance; Aleksandra Rudzi?ska – Clifford Chance; Przemys?aw Kopka – Gide Loyrette Nouel; Dimitrios Logizidis – Gide Loyrette Nouel; William Oliver – Gide Loyrette Nouel; Micha? ?miechowski – Gide Loyrette Nouel;

Law Firms: Clifford Chance; Gide Loyrette Nouel;

Clients: Commerzbank AG; mBank S.A.;

Federica Tiefenthaler

Author: Federica Tiefenthaler