The Ministry of Finance sells eurobonds for €1,75 billion

The Ministry of Finance sold 10-year benchmark Eurobonds at a nominal value of €1 billion with a bond yield of 1.542 percent, as well as 20-year Eurobonds at a value of €0,75 billion with a bond yield of 2.471 percent, the government announced. The buyers of the bonds are investment funds, banks, insurance institutions and retirement funds as well as central banks and public institutions primarily from Poland and the rest of Europe. The vice-minister of finances, Piotr Nowak, commented the news by saying that the ministry went on the market to gain funds to finance Poland’s currency needs. “At the beginning of February, bonds at a value of €2,3 billion will reach their maturity date, and thus with this purchase we aim to maintain a safe level of currency reserves.” He also indicated that the emission of long-term bonds will increase the average maturity of the debt of the State Treasury and diversify the investor base.