Poland $1 billion to $1.5 billion 10-year bond sale expected mid-to-late September

By Paul A. Harris

St. Louis, Aug. 17 - The Republic of Poland is expected to launch a $1 billion to $1.5 billion offering of 10-year sovereign bonds shortly before Sept. 25, when parliamentary elections are set to take place, according to a market source.

JP Morgan and Lehman Brothers have the bookrunning mandate.

Poland's sovereign ratings are A2 from Moody's Investors Service and BBB+ from Standard & Poor's.

In July, Poland issued €500 million of 4¼% 50-year bonds (A2/BBB+) to yield 4.299%, according to Prospect News data.

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