Greenberg Traurig has advised Bank Pocztowy on the first issue of the bank’s bonds, part of the public bond issuance program for individual investors. IPOPEMA Securities was bookrunner and joint lead manager.
The maximum aggregate nominal value of the bonds issued under the program is PLN 1 billion. June 8th marked the issue of the first tranche of subordinated bonds worth PLN 50 million. The Issuer is planning to seek the introduction of the bonds to the alternative trading system operated by the Warsaw Stock Exchange within the framework of the Catalyst market.
Greenberg Traurig provided comprehensive legal advice to the bank, including preparing the prospectus and obtaining its approval, structuring the bonds issue program and introducing the first tranche of bonds to the Warsaw Stock Exchange alternative trading system, and obtaining regulatory approvals from the Polish Financial Supervision Authority relating to the transaction.
“We are very pleased to have advised on such an interesting public offering successfully executed by our client,” said Greenberg Traurig Partner Rafal Sienski, who supervised the transaction along with Partner Ireneusz Matusielanski. Associate Dawid Van Kedzierski added that “this is the first time where a single prospectus includes both subordinated and senior bonds. Up to this point, in similar scenarios, two separate prospectuses would be prepared.”
Associate Adam Puchalski worked on the Greenberg Traurig team with Sienski, Matusielanski, and Kedzierski. In addition, Partner Lukasz Pawlak advised on regulatory issues, supported by Senior Associate Malgorzata Pasnik.
Greenberg Traurig did not identify counsel for IPOPEMA Securities on the deal.
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