Issuance of covered bonds by Millennium Bank Hipoteczny on the domestic market

Millennium Bank Hipoteczny S.A. has successfully completed another issuance of mortgage covered bonds on the domestic market with a total nominal value of PLN 500 million. The issue was addressed to institutional investors. Total demand exceeded PLN 830 million.

The mortgage covered bonds, with a total nominal value of PLN 500 million, were issued under the International Covered Bond Programme of Millennium Bank Hipoteczny S.A., based on the Base Prospectus approved by the Commission de Surveillance du Secteur Financier in Luxembourg on 30 September 2025. The Bank will seek to have the instruments admitted to trading on the parallel market of the Warsaw Stock Exchange.

The issue date of the covered bonds was 30 June 2026, and the maturity date has been set for 30 June 2031. The instruments were priced at 78 basis points over WIBOR 3M in a book-building process conducted on 23 June 2026.

The covered bonds were assigned an AAA rating with a negative outlook by Fitch Ratings Ireland Limited (Frankfurt am Main).

This was the fifth issuance of covered bonds by Millennium Bank Hipoteczny S.A. In 2024, the Bank issued two series of covered bonds with 3- and 5-year tenors and nominal values of PLN 300 million and PLN 500 million, respectively. In 2025, the Bank issued two series of 5-year covered bonds with nominal values of PLN 800 million and PLN 1 billion, respectively. The total nominal value of mortgage covered bonds issued and outstanding currently amounts to PLN 3.1 billion.

"This is our second issuance of covered bonds under the EMTN programme established at the end of September 2025. We are pleased that favorable market conditions enabled us to place 5-year covered bonds with the lowest margin over WIBOR achieved so far. We would like to thank investors for their trust and our partners for their support in the process. We also extend our thanks to our bank's employees as well as colleagues from Bank Millennium and the Brokerage House of Bank Millennium who contributed to the success of the issuance," said Agata Chrzanowska, President of the Management Board of Millennium Bank Hipoteczny S.A.

The entities involved in the transaction were Bank Millennium S.A. as Arranger, Calculation Agent, and Issuing Agent; the Brokerage House of Bank Millennium S.A. as Dealer; and Dom Maklerski Banku Ochrony Środowiska S.A. as an additional Dealer. Legal advisory in relation to the establishment of the international covered bond programme and the issuance was provided by White & Case M. Studniarek i Wspólnicy - Law Firm sp.k.

More information: https://www.millenniumbh.pl/link opens in a new tab.