Czech bank to raise EUR 170 mln via two FRN issues

...markets in the coming weeks, an official with the state-run bank said on Friday.

Morgan Stanley is arranging the two simultaneous offerings, fully guaranteed by the Czech Republic, under the bank's 1 billion euro medium-term bond programme.

Miloslav Dudek, head of international relations and fund raising department at CEB, told Reuters the bank was planning to launch a transaction comprising a 120 million euro, 9-year and 50 million euro, 7-year notes.

"Both will be floating rate issues and come to the market at the same time," he said. "We are seeking to have them placed in the next few weeks," he said without giving any further details.

The bank, which helps fund Czech exporters, is rated 'A-' by Standard & Poor's and 'A1' by Moody's, the same as the Czech Republic.

[PRAGUE/Reuters/Finance.cz]