MF sold eurobonds worth €1 bln

The Ministry of Finance sold €1 billion worth of benchmark eurobonds maturing in 12 years with a historically low yield of 1.022 percent, the ministry informed on Tuesday. The demand was valued at €1.7 billion in total. "We have decided to enter the euro market after a one-year break to take advantage of historically low long-term interest rates. We have a large reserve of foreign currency, but the ability to issue long-term bonds with a yield around 1 percent was a strong argument," director of Public Debt Department at the Ministry of Finance, Piotr Marczak said. Buyers come from Germany (21 percent), Poland (14 percent), France (11 percent), Great Britain (8 percent), Italy (6 percent), Scandinavia (5 percent), Switzerland (4 percent), Austria (4 percent), Asia (18 percent), the Middle East (3 percent) and other European countries (6 percent).