Poland completes financing of this year’s borrowing needs
October 4, 2012
Poland has financed 100% of 2012 borrowing needs after the issue of EUR 1.75 billion in benchmark eurobonds, and will now proceed to pre-finance next year's needs, the Finance Ministry's public debt department director Piotr Marczak said in a press statement on Tuesday.
Poland plans to pre-finance at least 20% of 2013 borrowing needs defined at PLN 145 billion, but will not settle for meagre terms, according to Marczak.
"The issue carried out shows that we will raise means for pre-financing next year's needs only on the best of possible terms," he wrote.
Poland sold EUR 1.75 billion in 12-year euro-denominated benchmark bonds priced to yield 3.385%, the Finance Ministry announced in a statement sent late Tuesday.