By Reshmi Basu
New York, July 12 - The Republic of Poland issued €500 million of 50-year bonds (A2/BBB+) to yield 4.299% through private placement.
The issue matures on July 20, 2055 and bears a 4¼% coupon.
Dexia Kommunalkredit Bank, Dexia Capital Markets and HSBC were lead managers for the issue.
This is the longest-dated bond for Poland, and follows the country's issue of 30-year bonds this January. The new bonds also carry the longest maturity for a fixed rate euro-denominated issue.
"Reaching such maturities allows public sector issuers to better match their liabilities with their assets," according to a statement by Dexia Bank.
| Issuer: | Republic of Poland
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| Amount: | €500 million
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| Maturity: | July 20, 2055
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| Coupon: | 4¼%
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| Yield: | 4.299%
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| Lead managers: | Dexia Kommunalkredit Bank, Dexia Capital Markets, HSBC
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| Ratings: | Moody's: A2
|
| Standard & Poor's: BBB+
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