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Bank Gospodarstwa Krajowego is pricing benchmark five-year notes deal
Chicago, Oct. 25 – Bank Gospodarstwa Krajowego (A2//A-) was in the market on Wednesday with a dollar-denominated offering of five-year senior notes (ISIN: XS2711511795) that was expected to be benchmark size, according to a market source and a notice.
The notes will mature on Oct. 31, 2031.
Full details were still pending.
At the last update, guidance was in the Treasuries plus 150 basis points area. Initial price talk started in the Treasuries plus 170 bps area.
The order book was over $2.7 billion.
The Rule 144A and Regulation S notes will be guaranteed by the republic of Poland.
Settlement is expected Oct. 31.
Proceeds will be used for the armed forces support fund.
J.P. Morgan is handling billing and delivery.
Other joint bookrunners are BNP Paribas, Citi, Commerzbank and Santander.
The lender is based in Warsaw.
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