MBank Hipoteczny sells largest ever Polish currency covered bond

Poland’s MBank Hipoteczny has issued its fifth and sixth covered bond deals of the year which combined to form the largest ever issue denominated in Polish zloty. The self-led deal will benefit from the new Polish covered bond law, which should be implemented in January 2015 and which is likely to offer a considerable rating uplift, and that boosted demand sufficiently for the leads to issue a size bigger than planned.