Poland’s FinMin says borrowing coverage is 80% of new target after bond auction

Poland’s Finance Ministry said that it increased coverage of its original PLN181.7bn borrowing target to 71% after a Thurs. bond auction in which it sold PLN4bn of bonds and boosted coverage of its revised PLN159.5bn target to 80%, according to a statement. The ministry lowered its expected borrowing target in the 2019 budget draft. It added that the sale did not impact pre-financing of its 2019 target, which remained 6%. The ministry sold PLN 4.0bn of six series of bonds on demand of PLN6.8bn.

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