The Ministry of Finance priced on November 8th, 2022 a 5-year and 10-year USD denominated benchmark bonds maturing on November 16th, 2027 and
November 16th, 2032. The total nominal amount of the issuance was USD 3bn (USD 1.5bn each tranche).

The 5-year bond was priced at the level of 130 basis points over US Treasury Notes due October 31st, 2027, yielding 5.619% with coupon of 5.50%. The 10-year bond was priced at the level of 175 basis points over US Treasury Notes due August 15th, 2032, yielding 5.890% with coupon of 5.75%.

The issuance was executed under Republic of Poland’s SHELF Programme registered under the Securities and Exchange Commission.

The lead managers on the transaction were: BNP Paribas, Deutsche Bank, Goldman Sachs Bank Europe SE, Santander and Société Générale.