By Paul A. Harris
St. Louis, Aug. 26 - The Republic of Poland's ministry of finance priced an upsized CHF 750 million issue of 3% five-year bonds Wednesday to yield 3.01%, or 138 basis points over mid-swaps, according to an official news release.
"The wide interest in this bond issue among investors enabled [Poland] to tighten the initially announced spread from 140 to 138 basis points over the CHF mid-swap rate," the ministry stated in its release.
The deal was upsized from CHF 500 million, according to a market source.
Credit Suisse and UBS Investment Bank led the transaction, which was priced off of the euro medium-term note program.
| Issuer: | Republic of Poland
|
| Amount: | CHF 750 million, increased from CHF 500 million
|
| Maturity: | Sept. 23, 2014
|
| Security description: | Bonds
|
| Lead managers: | Credit Suisse, UBS Investment Bank
|
| Coupon: | 3%
|
| Yield: | 3.01%
|
| Spread: | Mid-swaps plus 138 bps
|
| Pricing date: | Aug. 26
|
| Settlement date: | Sept. 23
|
| Distribution: | Euro medium-term note program
|
| Price talk: | Mid-swaps plus 140 bps
|
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