Client news

Advising Bank Pekao on inaugural EUR500 million issuance of Tier 2 notes

Advising Bank Pekao on inaugural EUR500 million issuance of Tier 2 notes
Published Date
Dec 10 2025
Related people
Image of Arkadiusz Pedzich
Arkadiusz PedzichPartner, Warsaw
Image of Jamie Durham
Jamie DurhamPartner, London
Image of Lukasz Walczyna
Lukasz WalczynaCounsel, Warsaw
Filip GlowkaAssociate, Warsaw
A&O Shearman advised Bank Pekao on its inaugural benchmark issuance of EUR500m Tier 2 subordinated callable fixed-to-floating notes due 2036, under the bank’s EUR5 billion euro medium-term note (EMTN) program. The transaction, which closed in November 2025, strengthens Bank Pekao’s capital structure and broadens investor access across Europe. Bank Pekao, BNP Paribas, Erste, and J.P. Morgan acted as joint lead managers.

The transaction was led by Łukasz Walczyna, counsel, supported by Filip Główka, associate, with oversight from Arkadiusz Pędzich, partner. Jamie Durham, partner, provided English law advice.

Arkadiusz Pędzich commented: "We are proud to have been a part of this successful transaction. It was a pleasure partnering with Bank Pekao."

Łukasz Walczyna added: "We are delighted to have supported the development of the documentation and timetable. It was a pleasure to work alongside the Bank Pekao team.”

Related capabilities