Allen & Overy has advised PKO Bank Hipoteczny on establishing its EUR 4 billion international mortgage covered bonds programme. This is the first international mortgage covered bonds programme to be established by a Polish mortgage bank.

The Allen & Overy team was led by Piotr Lesinski, partner, supported by Philip Smith, London-based partner, Bartosz Jagodzinski, counsel, Lukasz Walczyna, senior associate, Richard Cohen, London-based senior associate, and associates Mateusz Chodosz and Pawel Zdanowicz.

Piotr Lesinski, partner in Allen & Overy Warsaw's ICM Department, said: "We congratulate PKO Bank Hipoteczny on such an innovative project. I am proud that we could be a part of it. Our participation in this project reaffirms Allen & Overy's position in Poland as the leading advisor on projects vital to the development of the Polish capital market, and strengthens our leadership in the area of debt securities in Poland."

Philip Smith, partner in Allen & Overy London's ICM Department commented: "Allen & Overy is very pleased to have been able to advise PKO Bank Hipoteczny on this first-of-its-kind, market-leading project.  This is another great example of our ability to field combined English and Polish law teams to assist our clients in the development and growth of their businesses."

Allen & Overy has advised on 82 Covered Bond programmes, which is more than double any other law firm and represents a 24% share of the market. Currently, we are advising on covered bond programmes in 27 jurisdictions including the establishment of two covered bond programmes in Asia.