In October 2019, ING Bank Hipoteczny S.A. carried out the inaugural issue of 5-year green mortgage bonds.
In line with the policy adopted at ING Bank Hipoteczny (Green Bond Framework), the funds obtained from the issue will be used to refinance mortgage loans in PLN for natural persons, secured with mortgage belonging to 15% of the most energy-efficient buildings in Poland. ING Bank N.V. and ING Bank Śląski S.A. were Joint Lead Managers.
A strong interest on the part of local financial institutions allowed the issue with the value of PLN 400 million, at a price of 0.53%, to be placed over WIBOR 6M. The bonds issued are listed on the Luxembourg and Warsaw stock exchanges.
The Moody’s Investors Service rating agency confirmed the high quality of the mortgage loan portfolio, which is the collateral for the bonds issued, and gave the lists Aa3 rating (the highest rating achievable by a Polish issuer).
ING Bank Hipoteczny S.A. was the first mortgage bank to issue green mortgage bonds in its debut and the first entity from the ING N.V. Group to issue such bonds.