New Issue: Poland prices €1.75 billion notes due 2026, 2036

By Christine Van Dusen

Atlanta, Jan. 11 – Poland priced a combined €1.75 billion of 10- and 20-year notes (A2/A-/A-) on Monday, a syndicate source said.

The €1 billion 1½ 10-year notes priced at mid-swaps plus 65 basis points, following talk in the 65 bps area.

The €750 million 20-year notes priced at mid-swaps plus 100 bps, after talk of 100 bps to 105 bps.

Citigroup, HSBC, ING, Societe Generale and Unicredit were the bookrunners for the Regulation S deal.

Other details were not immediately available on Monday.

Issuer:	Poland
Amount:	€1.75 billion
Description:	Notes
Bookrunners:	Citigroup, HSBC, ING, Societe Generale, Unicredit
Trade date:	Jan. 11
Settlement date:	Jan. 18
Ratings:	Moody's: A2
	Standard & Poor's: A-
	Fitch: A-
Distribution:	Regulation S
10-year notes
Amount:	€1 billion
Maturity:	Jan. 18, 2026
Coupon:	1½%
Spread:	Mid-swaps plus 65 bps
Price talk:	Mid-swaps plus 65 bps area
20-year notes
Amount:	€750 million
Maturity:	Jan. 18, 2036
Coupon:	2 3/8%
Spread:	Mid-swaps plus 100 bps
Price talk:	Mid-swaps plus 100 bps to 105 bps

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