BGK will issue bonds of up to €1 mln for road construction

State-owned Bank Gospodarstwa Krajowego (BGK) is planning to issue a half to a million euros in long-term bonds to a fund for financing road construction (KFD), according to a Reuters press release. The issue of bonds will be guaranteed by the government. The bond will have a maturity of at least 10 years according to sources from the bank. HSBC, Societe Generale and BNP Paribas will manage the bond issue. BGK will also issue at least PLN 1 billion in bonds to finance other bank activities.