Advising Bank Pekao S.A. on landmark EUR500 million senior non-preferred notes issuance

The notes, which are eligible for inclusion in the bank’s minimum requirement for own funds and eligible liabilities (MREL), were placed with a broad range of international investors. The issuance attracted strong demand, underscoring continued investor confidence in both Bank Pekao and the Polish banking sector. Bank Pekao, Commerzbank, J.P. Morgan, Societe Generale, and UniCredit acted as joint lead managers on the transaction.

A&O Shearman acted as lead legal counsel to Bank Pekao, providing comprehensive advice on all aspects of the transaction, including structuring, documentation, and regulatory compliance. The transaction was led by Łukasz Walczyna, counsel, with key support from Filip Główka, associate. Jamie Durham, partner, provided English law advice. Arkadiusz Pędzich, partner, supervised the project.

Łukasz Walczyna commented: “We are proud to have supported this important issuance, which demonstrates the continued strength and resilience of the Polish capital markets. The high level of investor interest is a clear reflection of the market’s confidence in our client and the broader economic outlook.”

Arkadiusz Pędzich added: “It is always rewarding to be involved in transactions that attract such robust investor demand. This successful issuance highlights both the strong fundamentals of our client and the trust international investors place in the Polish market.”