By Rebecca Melvin
New York, Oct. 25 – Poland’s Bank Gospodarstwa Krajowego priced €750 million of 10.5-year notes (expected rating: //A-) on Wednesday with a 1 5/8% coupon at 99.821, according to a market source.
The Regulation S senior notes are guaranteed by the Republic of Poland.
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.
| Issuer: | Bank Gospodarstwa Krajowego
|
| Guarantor: | Republic of Poland
|
| Issue: | Senior unsecured notes
|
| Amount: | €750 million
|
| Maturity: | April 30, 2028
|
| Bookrunners: | J.P. Morgan Securities plc (stabilization coordinator), BGK, Citigroup and Deutsche Bank are stabilization managers
|
| Coupon: | 1 5/8%
|
| Price: | 99.821
|
| Trade date: | Oct. 25
|
| Settlement date: | Oct. 31
|
| Expected rating: | Fitch: A-
|
| Distribution: | Regulation S
|
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