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.
Related Articles
Eurozone manufacturing growth hits four-year high in April but Middle East war drives record price surge
Eurozone manufacturing activity expanded at the fastest pace in nearly four years in April as factories rushed to build safety stocks ahead of expected price rises and supply shortages linked to the ... more
Poland’s BGK to begin operations in Ukraine under new cooperation deal
Polish state development bank BGK will launch operations in Ukraine following the signing of a cooperation agreement between the two countries’ economic ministries, reported Ukraine Business News. ... ... more
Ukraine’s NovaPay launches European app for financial services with Polish partner
Ukrainian financial services group NovaPay has launched a European version of its mobile application, aimed at Ukrainians and EU residents, in partnership with Polish payment institution Quicko, ... more