Poland suspends T-bond auctions in July, August, plans one auction in September

By bne IntelliNews July 1, 2013

The ministry of finance has suspended wholesale Treasury bonds auctions in July and August, though it said that they may be held in the event of further stabilization of the market situation and declared high demand. In September, one sale auction is planned, the ministry added.

It has failed to provide estimates of the value range and types of bonds it will offer and merely said that the offer of T-bonds on the domestic market will depend on the market situation and the consultations with investors.

Should the auctions be held, their dates would be Jul 23, Aug 7 and Sep 5.

The ministry also announced that it does not plan T-bill auctions, while foreign financing will be determined by the situation on the international financial market and the domestic market (with the possibility of both issuance of bonds on the core international markets and in the private placement system.

Indeed, it said that the foreign financing plan for Q3 stipulates for loans from international financial institutions in the amount of up to EUR 2.0bn.

The ministry's public debt department director Piotr Marczak said that in July, Poland will receive an EUR 1.0bn loan from the World Bank. Taking this loan facility into account, this year's state borrowing needs will be fulfilled in 91%, he concluded. 

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