06.11.2024
Contents:

1. REPORT

3. INFORMATION ABOUT THE ENTITY

4. SIGNATURE OF PERSONS REPRESENTING THE COMPANY

POLISH FINANCIAL SUPERVISION AUTHORITY
REPORT No 56 / 2024
Date of issue:
Short name of the issuer
mBank S.A.
Subject
Settlement of a synthetic securitization transaction concluded by the Bank on a portfolio of corporate loans
Official market - legal basis
Art. 17 ust. 1 MAR - informacje poufne.
Contents of the report:
Settlement of a synthetic securitization transaction concluded by the Bank on a portfolio of corporate loansThe Management Board of mBank S.A. with its registered office in Warsaw (hereinafter „Bank”) informs that on November 6th 2024, the Bank conducted the settlement of a synthetic securitization transaction referencing a portfolio of corporate loans with a total value of PLN 5.237 billion as of August 30th 2024 (hereinafter "Transaction"). As part of the Transaction, the Bank transferred a significant part of the credit risk of a selected securitized portfolio to investors. The selected securitized credit portfolio remains on the balance sheet of the Bank. The Bank has the option to make a one-time increase of the notional of the Transaction up to a maximum level of PLN 7.0 billion, subject to the investor's consent ("Ramp-up Option"). The risk transfer of the securitized portfolio is performed through a credit protection instrument, in the form of partly - paid credit linked notes (hereinafter "Credit Linked Notes”). On November 6th 2024, the Bank issued Credit Linked Notes with a total nominal value of PLN 560 million. The Credit Linked Notes were purchased by Stichting PGGM Credit Risk Sharing Fund, represented by PGGM Vermogensbeheer B.V. as its attorney-in-fact (hereinafter the "Investor”). On the issue date, the Credit Linked Notes were paid-up in the amount of approximately PLN 419 million. After the Ramp-up Option is exercised, the paid-up amount of the Credit Linked Notes may increase to a maximum amount of PLN 560 million. Credit Linked Notes with the ISIN code XS2887885619, were introduced to trading in the alternative trading system on Vienna MTF operated by Wiener Börse AG (Vienna Stock Exchange). November 6th 2024 has been set as the first trading day for Credit Linked Notes. As part of the Transaction, the Bank is obliged to pledge collateral for the benefit of the noteholders in the form of eligible debt securities (and/or cash) deposited with an independent custodian – The Bank of New York Mellon. The value of the collateral on any date will be determined based on the nominal value (paid by the Investor) of the outstanding Credit Linked Notes. The Transaction will increase the Common Equity Tier 1 (CET1) capital ratio by approximately 0.4 percentage points at the consolidated level, when referenced to reported figures for mBank Group at the end of third quarter of 2024. The Transaction meets the requirements for significant risk transfer specified in the CRR Regulation and has been structured as meeting the STS criteria (simple, transparent and standard securitization) in accordance with Regulation (EU) 2021/557 of the European Parliament and of the Council. UniCredit Bank GmbH acted as arranger and placement agent for the Transaction.

INFORMATION ABOUT THE ENTITY    >>>

SIGNATURE OF PERSONS REPRESENTING THE COMPANY
Date Name Position / Function Signature
2024-11-06 Maciej Mołdawa Wicedyrektor ds. nadzoru inwestycyjnego, Departament Compliance