Poland to offer yuan denominated bonds
14:41
Poland's Ministry of the State Treasury will meet world investors in the upcoming weeks in order to convince them that the recent downgrading by S&P agency was unfair. According to Puls Biznesu daily, Poland will offer them Chinese yuan denominated bonds (so called panda bonds).
"Today we are starting a road show in the US, on the East Coast. We would like to see how Poland is seen by American investors. The first signals are encouraging and positive," Deputy finance minister Piotr Nowak told Puls Biznesu.
The Polish government is also going to sell some Chinese yuan denominated bonds satisfying market demand. "We will likely visit China at the turn of March and April, because we are considering an issue of so called panda bonds. ... We have been notified there are investors interested in such an offer," Nowak pointed out.
In mid-January, Standard & Poor's Ratings Services lowered its long-term foreign currency sovereign credit rating for Poland to 'BBB+' from 'A-' and its long and short-term local currency sovereign credit ratings to 'A-/A-2' from 'A/A-1', with a negative perspective.
