Poland’s borrowing costs fell to the lowest in three years in a sale of five-year bonds as economic recovery and slowing inflation bolstered demand to the highest since the month Lehman Brothers Holdings Inc. collapsed.
The Finance Ministry sold 3 billion zloty ($1.04 billion) of bonds due in April 2015 at an average yield of 4.987 percent, the lowest since March 2007, down from 5.778 percent at the previous auction on Dec. 2. Investors bid for 6.62 billion zloty of bonds, the biggest demand for similar-maturity debt since September 2008, when Lehman’s bankruptcy led to a deepening of the global financial crisis, according to the ministry Web site.
Read more: http://www.businessweek.com/news/2010-04-21/polish-borrowing-costs-drop-to-3-year-low-as-bond-demand-surges.html
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