Poland sells PLN 3.66bn in 10Y and 16Y bonds
January 4, 2013
Poland’s Finance Ministry sold on Thursday PLN 3.18 billion in 10-year bonds and PLN 485 million in 16-year bonds, slightly above the lower end of the PLN 3-5 billion supply range, drawing PLN 4.9 billion in bids, the ministry said in a press statement.
The auction priced the DS1023 paper to yield 3.847% and WS0429 - 3.896%.
Poland will not hold a top-up auction, the statement read.
Commenting on the debt auction deputy Finance Minister Wojciech Kowalczyk said that demand was hurt in part by a “correction” in German bunds and U.S. Treasuries.
"When it comes to yields at the auction, we have to look at what happened with US Treasuries and with Bunds, whose yields increased recently, which influenced the investors' perception," Kowalczyk said.
Moreover, "it's the beginning of the year and some investors, mainly London-based, are still not back from holidays," he said.