MF selects 4 banks to issue eurobonds

Banks Banco Santander, Barclays, Societe Generale and UniCredit were chosen by the Ministry of Finance to conduct the issue of bonds denominated in euros which will mature in six years. The transaction is expected to be undertaken within days, the ministry said. "Due to the good situation on the euro market, we have decided to enter it once again. This year's lower activity on the foreign markets is caused by our decision to decrease the value of debt denominated in foreign currencies. We have issued foreign bonds in smaller bundles focusing on their good valuation and the optimal market conditions, and this is also the case this time," said deputy minister of finance Dorota Podedworna-Tarnowska. The money raised will be earmarked to satisfy next year's borrowing needs.