BGK with PLN 1.2 bln bond issue

State-owned lender Bank Gospodarstwa Krajowego (BGK) sold PLN 1.2 billion worth of three-year floating rate bonds. The bonds were placed 43 basis points above the WIBOR rate. “The aim of the issue was to roll over papers maturing on May 19, 2017,” BGK said in a market filing, adding the size of the issue was increased to 1.2 billion from an earlier planned 1 billion due to investors' demand. Pension funds acquired 47 percent of the issue, while investment funds bought the remaining 43 percent. The bank is also mulling an eurobonds issue this year to finance the State Road Fund (KFD).