BGK boasts book over €1bn for long 10s

Warsaw, Poland
By Francesca Young
25 Oct 2017

Poland’s Bank Gospodarstwa Krajowego (BGK) printed a €750m long 10 year bond on Tuesday from a book of more than €1.1bn and with only a 3bp new issue premium.

BGK had released initial price guidance earlier in the day at mid to high 70bp over swaps and later refined that talk to 70bp-75bp over. It tightened again to 70bp area over swaps before launching at 68bp over.

The deal was sold at 99.821 with a 1.625% coupon. ...

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