By Aaron Hochman-Zimmerman
New York, July 20 - Poland priced a $1.5 billion reopening of its 6 3/8% 10-year senior unsecured bonds (A2/A-/A-) with a spread of Treasuries plus 275 basis points, according to a market source.
The new bonds priced at 99.786 to yield 6.404%.
Poland priced the original $2 billion bonds on July 7 at a spread of Treasuries plus 290 bps. That offering priced at 99.788 to yield 6.404%.
Barclays, Citigroup and HSBC acted as bookrunners for both Securities and Exchange Commission registered deals.
Proceeds from the latest sale will be used for general budgetary purposes.
Issuer: Poland
Issue: Senior unsecured note retap
| Amount: | $1.5 billion
|
| Maturity: | July 15, 2019
|
| Coupon: | 6 3/8%
|
| Price: | 99.786
|
| Yield: | 6.404%
|
| Spread: | Treasuries plus 275 bps
|
| Bookrunners: | Barclays, Citigroup, HSBC
|
| Distribution: | Off shelf
|
| Pricing date: | July 20
|
| Settlement date: | July 27
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A- |
|
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