Poland sells EUR 1.14bn in T-bonds at non-cash switch auction

By bne IntelliNews March 21, 2014

The ministry of finance has sold Treasury bonds of series PS0718 (maturing in July of 2018) worth of PLN 2.69bn and series DS 1023 (maturing in October of 2023) notes worth of PLN 2.12bn (in total: PLN 4.81bn, or EUR 1.14bn) at a non-cash switching auction, buying back in exchange notes maturing in the next few months for combined value of PLN 4.53bn, according to the ministry's release.
In particular, it bought back bonds of series PS0414 (maturing in April of 2014) for PLN 3.54bn and of series OK0714 (maturing in July of 2014) worth of PLN 0.99bn.
The average yield of the "shorter" bonds was 3.622-3625% vs. market-expected yield of 3.63%, while of the "longer" notes - 4.312% vs. 4.33%, respectively.
At the previous non-cash T-bond switching auction in December, the ministry of finance sold bonds maturing in 2016 and 2019 totalling PLN 2.62bn.
 

Related Articles

Poland isolated again as it threatens to block EU declaration

Poland will not sign the Rome Declaration if its demands for moulding the EU’s future are not reflected in the document, Prime Minister Beata Szydlo threatened on March 23. The statement could ... more

Polish ruling party's poll lead hit by EU spat

The popularity of Poland’s ruling party Law and Justice (PiS) has fallen below 30% for the first time since mid-2014, a poll showed on March 20. The survey, published by liberal newspaper ... more

Enea buys French utility out of Poland

Enea has acquired a 100% stake in Engie Energia Polska - the Polish business of French power company Engie - for PLN1.26bn (€290mn), the state controlled Polish utility said on March 14. The ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss