mBank and PGGM have entered into a credit risk sharing transaction referencing a PLN 3.8 billion portfolio of corporate loans in Poland. Approximately 75% of the portfolio is backed by financing of wind-farms and photovoltaic installations. The remainder of the portfolio references project finance lending in the areas of health care, telecommunications, and other industries of strategic importance to the lender.
Luca Paonessa, Lead Portfolio Manager, Credit Risk Sharing at PGGM: “This is the third transaction we execute with mBank, and the first with a strong focus on sustainability and energy transition. We are particularly proud of this project, as it reinforces two of our investment principles: the focus on partnerships with like-minded banks, and the belief that banks can play a critical role in the energy transition. Ultimately, this shows that credit risk sharing is an effective tool for mobilizing private capital for sustainable development. It therefore fits perfectly in PGGM’s 3D investment approach where we aim for an optimal balance between risk, return and sustainability for PFZW’s pension assets.”
Karol Prażmo, Managing Director - Treasury & Investor Relations at mBank: “We are proud to be once again writing SRT market history together with PGGM—this time through the first large-scale project finance SRT from the CEE region, backed by a portfolio of renewable energy projects. The transaction strengthens our capital base, builds on our position as a leading bank in the renewables sector, increases our capacity for new business, and more broadly supports Poland’s energy transition. It reflects the shared strategic focus of both mBank and PGGM on sustainability and ESG. I would like to thank the entire PGGM and mBank team for successfully closing this landmark transaction.”