mBank Hipoteczny authorised Commerzbank, Erste Group, LBBW and Societe Generale CIB, as dealers, to conduct a round of meetings with qualified investors in covered bonds before the debut issue on the international market.
As part of the road show which is scheduled for 16-18 April 2018, meetings will be held with investors in selected cities in Austria, Denmark, Finland, France, the Netherlands, Germany, Switzerland and the United Kingdom.
The first foreign issue of covered bonds worth EUR 300m (the so-called mini-benchmark) will be carried out depending on market conditions. It is expected that the bearer securities to be offered will have a medium-term maturity and Fitch Agency’s long-term rating at A level, i.e. 1 notch above the country ceiling. The FCA/ICMA stabilisation rules apply.
The legal basis for the issue will be the Base Prospectus of mBank Hipoteczny for the European covered bond issue programme worth EUR 3 bn, approved on 6 July 2017 by Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg.
According to the programme, covered bonds will be listed on the Luxembourg Stock Exchange.