MinFin: Poland to issue 6Y EUR bonds “in near future” to pre-finance 2016 borrowing needs

Poland mandated Banco Santander, Barclays, Societe Generale and UniCredit to manage an issue of 6Y EUR-denominated bonds in the near future, aimed at pre-financing next year’s borrowing needs, the Finance Minstry said in a statement and a comment sent to the press.

“The Ministry of Finance would like to inform that Banco Santander, Barclays, Societe Generale and UniCredit have been mandated to lead manage a 6-year bond denominated in euro,” the ministry said. “The transaction will be launched in the near future.”

Means from the issue should constitute pre-financing of next year’s borrowing needs, deputy Finance Minister Dorota Podedworna-Tarnowska commented.

The ministry decided to tap the eurobond market in relation to favorable conditions, the official added.

Poland continues to pursue smaller issues with attractive pricing, Podwdworna-Tarnowska also said.

“This year we issued foreign bonds in smaller amounts, focusing on good pricing and choosing the optimal market situation,” Podedworna said. “This is also the case this time.”

The smaller activity on foreign markets this year goes hand in hand with Poland’s strategy of reducing the relative exposure to FX-denominated debt, the official added.

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