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White & Case says it advised managers on mBank’s €250 million AT1 issuance
White & Case said it advised the joint lead managers on mBank’s issuance of €250 million in perpetual Additional Tier 1 notes. The firm said the transaction was the first euro-denominated AT1 issuance by a Polish bank and involved lawyers in London and Warsaw.
Key points
- The firm said the notes carry a 6.625% annual fixed rate until March 29, 2032, with semiannual payments.White & Case
- White & Case said the rate then resets every five years using the five-year euro mid-swap rate plus a margin.White & Case
- The firm said the notes were admitted to the Luxembourg Stock Exchange’s regulated market.White & Case
- White & Case said Neha Saran and Bartosz Smardzewski were among its advisers.White & Case