Poland plans bond issues abroad in no earlier than in Q1 of 2014

By bne IntelliNews November 28, 2013

Poland does not plan to carry out any issues of Treasury papers on foreign markets till the end of this year and the first such an offering - most likely denominated in USD - could materialise in Q1 of 2014, according to vice-minister of finance Wojciech Kowalczyk.
He elaborated that the ministry does not need now any significant volumes for pre-financing of the 2014 state budget's borrowing needs, especially bearing in mind the possibly lower than planned (by PLN 3-10bn) execution of the budget's deficit in 2013.
In early November, Poland sold a two-tranche bond denominated in Japanese yen for an aggregate nominal amount of JPY 60bn, with the 5-year bonds' yield at the lowest level in the history for all bonds issued by Poland in international markets.
In 2013, foreign bond issues were limited to two openings of eurobonds, in January and October, with total sale of EUR 1.7bn.

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