BGK releases fair guidance for long 10 year
Poland’s Bank Gospodarstwa Krajowego (BGK) released price guidance on a 10.5 year benchmark bond on Tuesday morning in London at a level that bankers away from the deal said looks fair.
Initial price guidance was put out at mid to high 70bp over swaps and later refined to 70bp-75bp over. The book for the deal had grown to over $950m by 11:30am in London
The Reg S bond, which carries an expected rating of A- by Fitch, is explicitly guaranteed
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