PKO BP tightens guidance on five year euros to fair value

By Francesca Young
16 Jan 2014

Bookrunners tightened guidance on PKO BP’s euro market return to 125bp area over mid-swaps on Thursday morning in response to strong demand.

Initial price thoughts for the five year Reg S benchmark deal had earlier been released at 130bp over mid-swaps by leads Citi, Santander, SG CIB and UBS.

Bankers away from the deal said the guidance level was close to fair value, which one put at 120bp based ...

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