Poland raised 3 billion euros ($4.3 billion) in its biggest offering of euro-denominated bonds in four years as it seeks to finance a growing budget deficit, according to a banker involved in the financing. The 15-year securities, Poland’s longest dated international bonds in euros since 2007, were priced to yield 148 basis points more than the midswap rate, said the banker, who declined to be identified before the deal is completed. The 15-year mid-swap rate, a benchmark for borrowing, was 3.9 percent today, making the yield around 5.4 percent. That compares with a yield of 4.78 percent on Poland’s euro- denominated bonds due 2022, Bloomberg data show.
Read more: http://www.businessweek.com/news/2010-01-11/poland-sells-3-billion-euro-bond-biggest-in-4-years-update1-.html
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