Poland finances full 2013 borrowing needs
October 23, 2013
The Polish government has fully financed its 2013 borrowing needs after the Tuesday auction, at which the country sold PLN 12 billion in three types of T-bond, and will now start pre-financing 2014 borrowing needs, deputy Finance Minister Wojciech Kowalczyk told reporters on Tuesday.
"For sure we want to pre-finance next-year's borrowing needs to such extent as to safely enter 2014," the official said.
The Polish government has three more auctions planned until the end of 2013 and will use them to pre-finance next year's needs, Finance Ministry's public debt department head Piotr Marczak said.
The Tuesday auction attracted large interest for IZ papers, in ministry's view bought by stable investors, Kowalczyk said.
"We also had investors from abroad," he said.
Polish non-banking sector players as well as foreign investors and domestic banks bought the bulk of the issue, Marczak said. Long-term bonds accounted for 60% of the papers sold, he added.
The Polish government sold a total of PLN 12 billion in Treasury papers at auction on bids of PLN 16.5 billion, the Finance Ministry said earlier in a statement.