Bank Gospodarstwa Krajowego talks €750 million 10.5-year notes at mid-swaps plus 68 bps

By Rebecca Melvin

New York, Oct. 24 – Poland’s Bank Gospodarstwa Krajowego plans to price €750 million of 10.5-year notes (expected rating: //A-) at a yield of mid-swaps plus 68 basis points, according to a market source.

The senior unsecured notes are guaranteed by the Republic of Poland and will be sold under Regulation S in minimum denominations of €100,000.

Proceeds of the notes are earmarked for the national road fund.

The notes are slated to settle on Oct. 31 and mature on April 30, 2028.

J.P. Morgan Securities plc is stabilization coordinator for the deal, and BGK, Citigroup and Deutsche Bank are stabilization managers.

The lender is based in Warsaw.

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