Bank Gospodarstwa Krajowego guides euro seven-, 12-year notes

By Rebecca Melvin

New York, May 23 – Poland’s Bank Gospodarstwa Krajowego guided pricing on its euro-denominated seven- and 12-year notes to mid-swaps plus 75 basis points and mid-swaps plus 95 bps, respectively, according to a syndicate source on Wednesday.

Pricing was not tightened from initial talk. The order books at the time guidance was released stood at more than €800 million, divided equally between the tranches.

Proceeds will be used to fund the National Road Fund Law.

In addition to BGK, Deutsche Bank, HSBC, JPMorgan and Societe Generale CIB are bookrunners of the dual tranches (expected rating: //A-) being sold under Regulation S.

The lender is based in Warsaw.

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