New Issue: Poland sells $1.5 billion 3 7/8% notes due 2015 to yield Treasuries plus 215 bps

By Christine Van Dusen

Atlanta, July 8 - Poland priced $1.5 billion 3 7/8% five-year notes (A2/A-/A-) at 99.703 to yield 3.941%, or Treasuries plus 215 basis points, a market source said.

Barclays, HSBC and Nomura were the bookrunners for the Securities and Exchange Commission-registered deal.

Proceeds will be used for general financing purposes and to finance the state budget borrowing requirements, according to a 424B5 filing with the SEC.

Issuer:	Poland
Amount:	$1.5 billion
Maturity:	July 16, 2015
Bookrunners:	Barclays, HSBC, Nomura
Coupon:	3 7/8%
Price:	99.703
Yield:	3.941%
Spread:	Treasuries plus 215 bps
Trade date:	July 8
Settlement date:	July 16
Ratings:	Moody's: A2
	Standard & Poor's: A-
	Fitch: A-
Distribution:	Securities and Exchange Commission registered

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