Bank Zachodni WBK subordinated bond

Location:

Poland

Project number:

49353

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

14 Mar 2018

Status:

Signed

PSD disclosed:

05 Apr 2018

Translated version of this PSD: Polish

Project Description

Investment in Polish zloty-denominated subordinated bond in an amount of PLN 150 million (EUR 36 million) as part of a total aggregate issuance of PLN 1 billion (EUR 238 million) to be issued by Bank Zachodni WBK ("BZWBK" of the "Issuer"), a public company incorporated in Poland and the third largest commercial bank in Poland.

Project Objectives

BZWBK has committed to allocate the equivalent of 140 per cent of the proceeds from EBRD investments in the Bonds to finance loans for certified commercial and residential projects which meet the GET eligibility criteria for greenfield projects, in compliance with internationally accepted certification schemes.

Transition Impact

The project will support the Bank's Green Economy Transition ("GET") approach in Poland via BZWBK allocating 140% of the EBRD's invested funds towards funding construction of certified commercial and residential projects which meet the GET eligibility criteria for greenfield projects.

The project will also strengthen the capital adequacy of a systemic bank in Poland and contribute to capital market development of the country.

Client Information

BANK ZACHODNI WBK SA

BZWBK is one of the largest financial institutions in Poland. BZWBK is listed on the Warsaw Stock Exchange with a market capitalization of PLN 36 billion (€ 8.6 billion equivalent) as of March 9, 2018. BZWBK had 10 per cent market share by deposits and 10.1 per cent market share by loan portfolio as of the end of 2017. Santander Group is the single largest shareholder with 68.13 per cent of total capital.

EBRD Finance Summary

PLN 150m (EUR 36m)

Total Project Cost

PLN 1 billion (EUR 238m)

Environmental and Social Summary

Categorised FI (2014 ESP). BZWBK will be required to comply with the EBRD's Performance Requirements 2, 4 and 9, adhere to the EBRD's E&S Risk Management Procedures for Corporate, SME and Micro Loans, ensure that energy efficiency sub-projects are in compliance with the national environment, social, labour and health and safety regulations and standards of Poland and submit Annual Environmental and Social Reports to the EBRD.

Technical Cooperation

None.

Company Contact Information
Pawel Kolodzinski
pawel.kolodzinski@bzwbk.pl
(+48) 225341799
http://www.bzwbk.pl

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