Poland sells EUR 1.25bn worth of 7-year benchmark eurobonds.

By bne IntelliNews March 23, 2010
Poland has priced 7-year eurobonds for a nominal amount of EUR 1.25bn, with the average yield at 3.852%, deputy finance minister Dominik Radziwill has told the Polish Press Agency. Bloomberg noted that this yield meant that it was 100bps more than the benchmark mid-swap rate and was similar to the spread of 97 basis points on Poland 's eurobonds due in 2018. The minister also upheld the plan to offer 5-year USD-denominated bonds worth of USD 1.0-1.5bn, but admitted that this offer could take place later than in April (as planned initially). Earlier in the day, the finance ministry mandated Barclays Bank PLC, Citigroup Global Markets Limited and HSBC Bank plc to lead manage a 7-year benchmark bond denominated in euro. Earlier in March, the ministry sold 4-year Swiss franc-denominated bonds for a nominal amount of CHF 475mn. In January, 2010, it sold EUR 3bn in eurobonds, which is half of foreign bond sales planned for the whole year. ISB, tom

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