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White & Case advises Millennium Bank Hipoteczny on €3 billion international mortgage covered bonds programme

7 October 2025 … Global law firm White & Case LLP has advised Millennium Bank Hipoteczny S.A. on the establishment of its international mortgage covered bonds programme (EMTN programme) with a nominal value of up to €3 billion.

The base prospectus was approved on 30 September 2025 by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. Under the EMTN programme, Millennium Bank Hipoteczny will be allowed to issue mortgage covered bonds to both international and Polish institutional investors.

The EMTN programme allows Millennium Bank Hipoteczny to issue covered bonds on international markets, with clearance through Euroclear and Clearstream in Luxembourg, or to issue PLN-denominated dematerialized covered bonds on the local market with clearance through the Polish National Depository System as the primary depository.

Millennium Bank Hipoteczny may apply for admission of the covered bonds to trading on the regulated market operated by the Luxembourg Stock Exchange or on the regulated market of the Warsaw Stock Exchange.

The White & Case team which advised on the transaction included partners Marcin Studniarek (Warsaw) and Debashis Dey (Dubai), local partner Bartosz Smardzewski (Warsaw) and associates Michał Truszczyński (Warsaw) and Ola Sanni (Dubai).