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Programme of mortgage bond issues

Important information

Prior to obtaining access to the information placed on this website please read carefully the following information. By selecting the option “I agree” below you confirm that you have read the following information and agree to the restrictions as stated herein.

  1. These materials are not an offer of securities for sale in the United States. The securities to which these materials relate have not been registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will be no public offering of the securities in the United States.
  2. The securities are not offered in Poland in a public offering within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC, which would require preparing and publishing a prospectus.
  3. These documents are being distributed to and are only directed at (i) persons who are outside the United Kingdom, (ii) to investment professionals falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (iii) high net worth companies, and (iv) other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i) to (iv) above together being referred to as “relevant persons”). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

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Base Prospectus dated 5 September 2019

Series 1 Mortgage Covered Bonds

Final terms

Green Covered Bonds

Natural environment is our common future and at the same time our common responsibility. ING Bank Śląski Group as one of the leading financial institutions in Poland has significant influence on many economic processes and individual choices. Today’s decision shape our future, that is why we try to minimize trace left by our activity in the environment and at the same time help our Clients in energy transformation and transition to low carbon solutions.

Buildings are responsible for around 40% of energy usage in EU and generate 36% of total CO2  emissions, 35% of buildings was built more than 50 years ago and 75% is energy inefficient. European buildings sector has significant potential in terms of energy efficiency improvement and stepping on gradual decarbonization path is a requirement which we need to face today.

By taking part in Group’s long term strategy, ING Bank Hipoteczny prepared Green Covered Bond Framework – document which presents our commitment to investors in terms of use of proceeds related to covered bonds issuance. In line with this document proceeds from issuance will be used to finance or re-finance real estates which belong to top 15% most energy efficient buildings in Poland (for additional information please see Green Covered Bonds Framework). Criteria for energy efficiency evaluation were developed by German consultant Drees & Sommer. Our approach is based on international standard, assuring transparency and high quality of information for investors which was developed by International Capital Markets Association and presented within Green Bonds Principles. In line with this standard our Framework consists of four main blocks:

  • Use of proceeds
  • Process for project evaluation and selection
  • Management of proceeds
  • Reporting

Our Framework was evaluated by one of the leading ESG rating agencies ISS – oekom who issued Second Party Opinion – document confirming compliance with highest market standards. In its opinion ISS – oekom pointed positive impact of the Bank’s approach on two areas defined by United Nations within Sustainable Development Goals (UN SDGs).

We have also received certification by Climate Bonds Initiative – international organization which based on rigorous criteria evaluates if financial instrument contributes to the 2 degrees Celsius warming limit in the Paris Agreement. Climate Bonds Initiative certification is widely used by stakeholders to evaluate if financial instrument addresses climate changes.

Proceeds from Green Covered Bonds issuance will be used to finance ecofriendly projects. In line with calculations by external consultant mortgage portfolio in ING Bank Śląski Group allows yearly CO2 reduction by around 240 thousand tons. This amount is equal to yearly emissions by 52 thousand cars. In order to absorb this amount of CO2 11 million trees would be required. As a result, it already today can save over PLN 26 million in costs for the purchase of CO2 emission certificates throughout Poland.

 

 

Presentations

Contact

For investors

Michał Dumicz
Treasurer
+48 32 356 2900
michal.dumicz@inghipoteczny.pl