On October 15th, Ministry priced dual tranche 7-year and 15-year EUR denominated benchmark bonds with nominal amount EUR 3.00bn.

Investors once again confirmed their huge interest in Polish euro-denominated bonds reporting historically high demand — the orderbook exceeded EUR 15.4bn.

The 7-year bond with nominal amount EUR 1.75bn maturing on October 22, 2031 was priced at the level of 85 basis points over mid-swap rate, yielding 3.197% with annual coupon of 3.125%.

The 15-year bond with nominal amount EUR 1.25bn. maturing on October 22, 2039 was priced at the level of 140 basis points over mid-swap rate, yielding 3.898% with annual coupon of 3.875%.

The issue was executed under Republic of Poland’s Euro Medium Term Note (EMTN) Programme. The lead managers on the transaction were Commerzbank, ING, J.P. Morgan and Société Générale.