Chicago, Feb. 15 – Bank Gospodarstwa Krajowego priced €750 million of 5 1/8% notes with a 10-year tenor (//A-) on Wednesday, according to a source.
The notes priced at 99.847 to yield 5.145%, or at mid-swaps plus 215 basis points.
Guidance started in the mid-swaps plus 240 bps area.
BNP Paribas, Citi, Commerzbank, J.P. Morgan and Societe Generale are the joint lead managers for the Regulation S offering.
The final order book was over €2.1 billion, including €60 million of interest from the joint lead managers.
The notes are being issued on behalf of the Covid-19 response fund and will be guaranteed by the state treasury of the republic of Poland.
Distribution is via Regulation S, and the notes will be listed in Luxembourg.
The lender is based in Warsaw.
| Issuer: | Bank Gospodarstwa Krajowego
|
| Guarantor: | Poland
|
| Amount: | €750 million
|
| Issue: | Notes
|
| Maturity: | Feb. 22, 2033
|
| Bookrunners: | BNP Paribas, Citi (billing and delivery), Commerzbank, J.P. Morgan and Societe Generale
|
| Coupon: | 5 1/8%
|
| Price: | 99.847
|
| Yield: | 5.145%
|
| Spread: | Mid-swaps plus 215 bps
|
| Trade date: | Feb. 15
|
| Settlement date: | Feb. 22
|
| Ratings: | Fitch: A-
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 240 bps area
|
| ISIN: | XS2589727168
|
|
|
© 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.
