Dentons advises mBank on inaugural €400 million Tier 2 bond issuance

Dentons has advised mBank, one of the largest financial services groups in Poland and a leader in digital and mobile banking adoption, on its successful issue of €400 million resettable callable Tier 2 subordinated bonds.

The transaction is the first publicly issued, euro-denominated Tier 2 bond by a Polish bank and represents the largest EUR Tier 2 transaction from the CEE region in the past five years.

Commerzbank Aktiengesellschaft, Erste Group Bank AG, Goldman Sachs Bank Europe SE, Morgan Stanley Europe SE and UBS Europe SE acted as joint lead managers.

A cross-border Capital Markets team advised long-standing client, mBank. The team was led by partner David Cohen in London, supported by associate Ed Varney and by partner Jakub Celiński, senior associate Paulina Galewska, as well as tax partner Dariusz Stolarek and senior associate Damian Bugaj in Warsaw.

“This was an outstanding transaction to work on and another great example of the Dentons international capital markets team providing our clients with local and international support on a high profile deal”, commented Jakub Celiński, Poland Co-Managing Partner.

Global law firm Dentons has more than 5,900 lawyers worldwide, including close to 170 in Warsaw. It is recognized as one of the largest and highest quality law firms in the Polish market by leading legal directories such as Chambers Europe and The Legal 500.