By Christine Van Dusen
Atlanta, Oct. 13 - Poland's Polskie Koleje Panstwowe SA (PKP SA) priced a €180 million issue of 5¾% notes due Oct. 20, 2016 (//BBB) at 99.636 to yield 5.836%, or mid-swaps plus 375 basis points, a market source said.
The notes priced in line with talk, set at the mid-swaps plus 375 bps area.
Goldman Sachs and RBI were the bookrunners for Regulation S notes, which include a change-of-control put if the State Treasury of Poland ceases to control PKP.
PKP is the parent company of Grupa PKP, the state-owned rail operator for the Republic of Poland.
| Issuer: | Polskie Koleje Panstwowe SA (PKP SA)
|
| Amount: | €180 million
|
| Maturity: | Oct. 20, 2016
|
| Description: | Notes
|
| Bookrunners: | Goldman Sachs, RBI
|
| Coupon: | 5¾%
|
| Price: | 99.636
|
| Yield: | 5.836%
|
| Spread: | Mid-swaps plus 375 bps
|
| Change-of-control put: | If State Treasury of Poland ceases to control PKP
|
| Trade date: | Oct. 13
|
| Settlement date: | Oct. 20
|
| Rating: | Fitch: BBB
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 375 bps area
|
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