May 15, 2017 / 12:09 PM / 4 months ago

Polish state bank BGK places 1.2 bln zlotys in bonds

WARSAW, May 15 (Reuters) - Poland’s state bank BGK placed three-year floating rate bonds worth 1.2 billion zlotys ($312.66 million) on Friday, the bank said on Monday.

The bonds were placed 43 basis points above the Warsaw interbank offered rate WIBOR, BGK said.

“The aim of the issue was to roll over papers maturing on May 19, 2017,” BGK said, adding the size of the issue was increased to 1.2 billion from an earlier planned 1 billion due to investors’ demand.

BGK said pension funds bought 47 percent of the issue, while investment funds 43 percent.

“In 2017, we do not exclude issuing eurobonds for the State Road Fund (KFD). The final decision regarding such issue will depend on actual needs of the fund and the situation on international markets,” BGK said. ($1 = 3.8380 zlotys) (Reporting by Pawel Sobczak; Writing by Marcin Goettig; Editing by Lidia Kelly and Louise Heavens)

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