The Ministry of Finance priced on December 12th, 2016 a 5-year EUR denominated "Green Bond" maturing on December 20th, 2021.

Demand at EUR 1.5bn (91 accounts) allowed to increase amount issued to EUR 750m, from initially expected EUR 500m. The bond was priced at the level of 48 basis points over mid-swap rate, yielding 0.634% with annual coupon at the level of 0.5%.

Republic of Poland priced Green Bond as the first ever Sovereign issuer. Proceeds from the issuance will be spent on environmental projects according to the Green Bond Framework.

The structure of buyers is well diversified, with 61% of allocation going to designated green accounts.

Geographical structure: Germany/Austria (27%), Benelux (17%), UK/Ireland (16%), Nordics (15%), France (13%), Poland (7%), others (5%).

Institutional structure: asset managers (49%), banks (22%), insurance and pension companies (16%), central banks and public institutions (12%), others (1%).

The issue was executed under Republic of Poland's Euro Medium Term Note (EMTN) Programme. The lead managers and bookrunners on the transaction were HSBC, JP Morgan and PKO BP.