Published on 6/23/2014 in the Prospect News Emerging Markets Daily.
New Issue: Poland’s Orlen sells €500 million 2˝% notes due 2021 at 160 bps spread
By Christine Van Dusen
Atlanta, June 23 – Poland’s PKN Orlen sold €500 million 2˝% seven-year notes (Baa3//BBB-) at 99.135 to yield mid-swaps plus 160 basis points, a market source said.
BNP Paribas, HSBC, Mitsubishi UFJ Securities, RBS, Santander GBM and UniCredit were the bookrunners for the Regulation S deal.
The company is an oil refiner based in Warsaw.
| Issuer: | PKN Orlen
|
| Amount: | €500 million
|
| Maturity: | June 30, 2021
|
| Description: | Notes
|
| Bookrunners: | BNP Paribas, HSBC, Mitsubishi UFJ Securities, RBS, Santander GBM, UniCredit
|
| Coupon: | 2˝%
|
| Price: | 99.135
|
| Spread: | Mid-swaps plus 160 bps
|
| Trade date: | June 20
|
| Settlement date: | June 30
|
| Ratings: | Moody’s: Baa3
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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