Poland allegedly sells EUR 3bn in 15-year eurobonds.

By bne IntelliNews January 12, 2010
Poland has priced 15-year eurobonds for a nominal amount of EUR 3bn, even though investors placed demand for EUR 6bn of these papers, according to information of IFR Markets service, quoted by the Parkiet daily. The bonds were priced at 148bps above the swap average, the newspaper added. The finance ministry has not yet confirmed these results. Parkiet merely quoted deputy finance minister Dominik Radziwill as saying that interest in Polish papers was "extraordinary, higher than we could have imagined." He added that this issue, together with the already negotiated credits, allowed to cover this year's foreign borrowing needs for this year (seen in the budget at PLN 21.2bn vs. last year's around 10bn); however, a USD-denominated bond issue is still being considered for Q1/2010, Radziwill stressed. The current eurobond issue featured the longest maturity papers since January, 2007. Last week, the ministry announced that HSBC, ING, Societe Generale and Unicredit had been mandated to lead manage a benchmark bond denominated in euro. tom

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