Poland includes 30-year bond in planned PLN3bn debt offer in June

By bne IntelliNews May 31, 2017

Poland plans to sell up to PLN3bn (€720mn) in new zloty-denominated treasury bonds in June, the ministry of finance announced on May 31.

The planned issues include a 30-year paper, illustrating Warsaw's hopes of extending the maturity of its debt burden while easy monetary conditions persist across Europe. Other regional soveriegns - Slovakia for instance - recently made similar moves.

Warsaw will attempt to place the entire planned debt in a single auction, due on June 9. The offer will comprise bonds maturing in April 2019, April and November 2022, January 2026, July 2027, and April 2047, the ministry said. The final details of the auction will depend on the market situation and will be announced two days before the sale.

Warsaw will also carry out a swap auction of bonds maturing in July and October 2017 and January 2018 on June 22, offering the same bond series as in the regular auction, except for the 30-year notes. There will be no sale of T-bills in May, the ministry noted.

Poland’s previous venture into the debt market took place on May 26, when Warsaw sold PLN3.4bn in bonds at a switch auction; the most recent regular auction took place on May 18, when Poland sold PLN3bn worth of bonds with yields tightening.

 

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