New Issue: Poland sells €1.5 billion 0% five-year notes at mid-swaps plus 19 bps

By Rebecca Melvin

New York, Feb. 7 – The Republic of Poland priced €1.5 billion of 0% five-year notes at 100.512 to yield minus 0.102%, or mid-swaps plus 19 basis points, according to a market source.

Pricing was tightened from initial talk at mid-swaps plus high 20 bps area.

The Regulation S notes were sold via bookrunners BNP Paribas, Commerzbank, ING, JPMorgan, PKO BP and Santander.

Issuer:	Poland
Issue:	Global notes
Amount:	€1.5 billion
Maturity:	Feb. 10, 2025
Joint lead managers:	BNP Paribas, Commerzbank, ING, JPMorgan, PKO BP and Santander
Coupon:	0%
Price:	100.512
Yield:	Minus 0.102%
Spread:	Mid-swaps plus 19 bps
Pricing date:	Feb. 3
Settlement date:	Feb. 7
Distribution:	Regulation S
Price talk:	Mid-swaps plus high 20 bps area

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