New Issue: Poland sells €3 billion 10-year bonds at mid-swaps plus 15.5 bps

By Reshmi Basu

New York, Jan. 24 - The Republic of Poland sold €3 billion 10-year bonds (A2/BBB+/BBB+) at 99.383 to yield mid-swaps plus 15.5 basis points, according to press release from the country's Ministry of Finance.

The issue priced at the wide end of price guidance. Guidance had been set at mid-swaps plus 13 to 16 basis points.

Credit Suisse, Deutsche Bank and JP Morgan were the joint lead managers for the Regulation S transaction.

Issuer:	Republic of Poland
Amount:	€3 billion
Issue:	Sovereign bonds
Maturity:	Feb. 1, 2016
Coupon:	3 5/8%
Issue price:	99.383
Yield:	Mid-swaps plus 15.5 basis points
Pricing date:	Jan. 24
Settlement date:	Feb. 1
Joint lead managers:	Credit Suisse, Deutsche Bank, JP Morgan
Ratings:	Moody's: A2
	Standard & Poor's: BBB+
	Fitch: BBB+
Price guidance:	Mid-swaps plus 13 to 16 basis points

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