Poland

Żabka Polska, an operator of Polish convenience stores, has launched a syndicated loan to fund a dividend recapitalisation, according to bankers. The transaction is following closely in the footsteps of fellow Polish corporate, Allegro, that closed a Z2bn (€470m) dividend recap in May.

PKO Bank Hipoteczny issued its debut green covered bond on Wednesday, the first deal of its type from Poland. This deal is the ninth covered bond with an environmental and social governance (ESG) purpose to have been launched this year and, according to Commerzbank research.

Poland e-commerce platform Allegro has completed its Z2bn dividend recap refinancing, receiving healthy oversubscription with the participation of local lenders. But some in the market said that co-operation between international and local lenders in Poland has not been all sunshine and rainbows.

Polish e-commerce platform Allegro is set to close a Z2bn (€470m) dividend recapitalisation deal this week after heavy oversubscription, according to bankers.

PKO Bank Hipoteczny has published its green covered bond framework which complies with the International Capital Market Association’s Green Bond Principles, the Climate Bonds Initiative’s standard for residential buildings and has a second party opinion from sustainability rating agency, Sustainalytics.

The European Investment Bank (EIB) has moved its new Climate Awareness Bond (CAB) documentation beyond the eurozone with the sale of a Polish zloty bond to a single Japanese investor.

Allegro, the Polish e-commerce platform, is raising Z2bn (€470m) in a dividend recapitalisation, according to bankers. The deal, one of the biggest CEE loans in this year’s pipeline, is being led by three local and international lenders, although some market participants said the Polish banks would be capable of providing all the money.

EPP NV, a Polish firm that owns malls and office buildings, raised over €90m of equity capital in Johannesburg on Wednesday last week.

Globalworth Real Estate, the London-listed real estate investment trust focused on Romania and Poland, has completed the sale of up to €500m of fresh equity to finance its pipeline of investment opportunities.

Poland has released a draft capital markets development strategy, that aims to improve corporate governance, including at state-controlled firms, and foster a savings culture.

This Thursday was Fat Thursday, a Polish equivalent of Pancake Day, celebrated by the consumption of doughnuts. But Poland’s Ministry of Finance fed socially responsible investors a different treat this year: €2bn of green bonds.

Poland is in the market for its most ambitious green bonds yet. It has opened books for two tranches of euro debt, hitting the 10 and 30 year maturity buckets.