The Ministry of Finance priced on March 11th, 2024 a three-tranche USD denominated benchmark bond for an aggregate nominal amount of USD 8.0bn.

• a 5 year bond of a nominal amount of USD 1.5bn maturing on 18 March 2029 which was priced at 70 basis points over US Treasury Notes due February 28, 2029, yielding 4.797% with annual coupon of 4.625%.
• a 10 year bond of a nominal amount of USD 3.0 bn maturing on 18 September 2034 which was priced at 105 basis points over US Treasury Notes due February 15, 2034, yielding 5.162% with annual coupon of 5.125%.
• a 30 year bond of a nominal amount of USD 3.5 bn maturing on 18 March 2054 which was priced at 130 basis points over US Treasury Notes due November 15, 2053, yielding 5.580% with annual coupon of 5.500%.

 

The bond issue attracted great interest from stable and long-term investors, who once again this year clearly confirmed their trust in the foundations of the Polish economy. Historically, the highest demand reported by investors had a direct impact on the size of the transaction itself - this is the largest issue of Treasury bonds on the US dollar market. The issue was executed under Republic of Poland’s SHELF Programme registered under the Securities and Exchange Commission. The lead managers on the transaction were: Citi, Deutsche Bank, J.P. Morgan and Santander banks.