The Polish finance ministry sold EUR 3.0bn in 15-year eurobonds on Tuesday doubling the originally planned offer due to heavy oversubscription, the ministry said in a communiqué. The bond maturing on 20 April 2020 yields 4.25%, which is 27 bps over mid-swap rate or 39.6 bps over the yield of French government bonds.
The annual coupon has been set at 4.20%, which implies the price of 99.375% of nominal value, the ministry said. The transaction will be settled on Jan 18. The proceeds will be utilized for financing of foreign debt principal payments (including prepayments). The ministry underlined that this issue was the largest and longest ever single transaction launched, not only for Poland, but also from the new EU member countries.