European Mortgage Fund to debut this week

On Friday, mortgage bonds of the European Mortgage Fund (EFH), specializing in financing the construction of commercial property, will debut on the Polish market. The first tranche will have a value of zł. 19 million, but this is just the beginning of a three-year program of an estimated value of zł. 600 million. "This will be the first issue of mortgage bonds in Poland. They are very popular in Europe and the United States," said EFH president Mirosław Wierzbowski. He believes that these instruments are almost as safe as T-bonds, as mortgage bonds are issued for a specified investment project. "Investment and pension funds are among the interested parties," said Wierzbowski. He has however, stressed that in the current macroeconomic situation, it is hard to find buyers for such instruments. "Investors need time in order to gain trust in them," added the EFH president. (Puls Biznesu, pp. 1, 7) M.M.