FinMin issued renminbi 3 year-maturity bonds valued at PLN 1.6 billion

The Ministry of Finance  issued bonds nominated in chinese yuans on Thursday at the Chinese Interbank market. These so-called "Panda" bonds have been valued at PLN 1.727 billion; their maturity date is August 26 2019, the Ministry reported. The Ministry stated on Thursday the bonds' interest rate stood at 3.4 percent (yearly). The deal will be closed on August 26. The department also stated hedging the financial instruments, saying that "  currency swap contracts on euro have been made to ensure the safety of future cash flows. The profability of the bonds after having taken those actions formed at -0.173 percent." MF stated the demand for the instruments was twice as high as the number of those issued, and most of them has been bought by institutional investors. Bank of China and HSBC were leading issuing consortium.