By Rebecca Melvin
Concord, N.H., Oct. 6 – Poland’s Bank Gospodarstwa Krajowego priced €500 million 3/8% seven-year notes (expected rating: //A-) at a reoffer price of 99.608 to yield 0.432%, or a spread over mid-swaps of 45 basis points, according to a syndicate source on Wednesday.
The Regulation S notes are guaranteed by the State Treasury of the Republic of Poland and represent a drawdown under BGK’s €15 billion medium-term note program.
The bookrunners are Citi, Commerzbank AG, ING, PKO Bank Polski and Santander. The proceeds are earmarked for a Covid-19 response fund.
The lender is based in Warsaw.
| Issuer: | Bank Gospodarstwa Krajowego
|
| Guarantor: | State Treasury of the Republic of Poland
|
| Issue: | Senior unsecured notes
|
| Amount: | €500 million
|
| Maturity: | Oct. 13, 2028
|
| Bookrunners: | Citi, Commerzbank AG, ING, PKO Bank Polski and Santander
|
| Coupon: | 3/8%
|
| Price: | 99.608
|
| Yield: | 0.432%
|
| Spread: | Mid-swaps plus 45 bps
|
| Calls: | Non-callable
|
| Trade date: | Oct. 6
|
| Settlement: | Oct. 13
|
| Expected rating: | Fitch: A-
|
| Distribution: | Regulation S
|
| ISIN: | XS2397082939
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
