Poland prices five year global with low rates but big interest
The Republic of Poland priced a $1.5bn five year bond late on Thursday, its first global dollar benchmark since October 2005 and garnered such strong investor interest that traders speculated a deal in euros may be next.
The sovereign mandated Barclays Capital, HSBC and Nomura as bookrunners.
The leads printed the 3.875% bonds due June 2015 at a re-offer level of 215bp over the on-the-run five year Treasury note which equated to 189bp over mid-swaps. Initial price talk had been 200bp over treasuries.
Bankers in the
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