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White & Case Advises BGK on USD 1.75 Billion Bond Issuance

White & Case Advises BGK on USD 1.75 Billion Bond Issuance

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White & Case has advised Bank Gospodarstwa Krajowego on the issuance of ten-year bonds guaranteed by the State Treasury of the Republic of Poland with a total nominal value of USD 1.75 billion and a 5.375% annual coupon. Linklaters reportedly advised the managers.

The consortium that organized the issuance included BNP Paribas, Citigroup, ING, J.P. Morgan, and Santander.

"It is BGK's first bonds issuance targeted at US investors under Rule 144A of the US Securities Act, with the proceeds earmarked for its COVID-19 Response Fund," White & Case informed. 

"The bonds were issued under the Medium-Term Note Program established by BGK and updated on May 8, 2023, which allows the issuance of bonds targeted at qualified institutional buyers in the US," the firm added.

The White & Case team included Warsaw-based Partner Marcin Studniarek, Local Partner Bartosz Smardzewski, Associate Dawid Ksiazek, and a team from the firm’s London office.

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