Polish FinMin to offer EUR 0.7-1.2bn, state bank BGK - EUR 0.2-0.5bn at May T-bond auctions

By bne IntelliNews May 2, 2014

The ministry of finance plans to offer PLN 3-5bn (EUR 0.7-1.2bn) worth of Treasury bonds of series PS0719 / WZ0119 (maturing in 2019) at an auction on May 8. Also, the state-held bank BGK is due to offer PLN 1-2bn (EUR 0.2-0.5bn) worth of IDS1024 notes (maturing in 2024) to finance road-construction projects at an auction on May 22 (this will be the first such an auction in two years).

The ministry's public debt department head Piotr Marczak explained that investors' interest in mid- and long-term bonds has persuaded the ministry to refrain from offering two-year bonds for the time being. As for road-construction bonds, he added that if the auction's result is in line with the ministry's expectations, it will be this year's only such an offer.

The director also announced that at the end of April, the ministry has financed 82% of full-year state budget borrowing needs. Hence – in line with earlier announcements – the ministry continues to limit the number of value of papers offered at T-bond auctions, he concluded.

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