Poland sells EUR 2bn worth of 10Y bonds
January 10, 2014
The Polish government sold EUR 2 billion in 10Y bonds on Wednesday on EUR 4.1 billion bids, pricing the paper to yield 3.032%, the Finance Ministry said in a market filing.
"High demand allowed reaching yield at 3,032% - historically the lowest level for Polish long-term eurobonds," the statement said.
The bonds were valued at 87 bp above the average swap rate and their annual coupon was set at 3%.
The bonds sold on Wednesday mature on January 15, 2024, the statement said.
Investment funds took the largest share of the issue at 36%, banks followed with 25%, while pension funds and insurance firms - 24%. A breakdown country-wise showed the largest involvement of European states such as Germany, Austria and Great Britain.
There was also substantial involvement of central banks and funds managing public money, which acquired 14% of the issue.