Wielkoposlka voivodeship to become first to issue bonds, valued at zl. 54 mn

The Wielkopolska voivodeship, with its capital in Poznan, will become the first to issue securities, with a zl.54 million bond offering planned this year. The bonds will be issued in eight tranches, each with different maturity, ranging from three to 10 years. Proceeds from the issue will be used on renovation and modernization of roads. It is likely that the bonds will be publicly traded on the Centralna Tabela Ofert (CTO) over-the-counter market. So far, only the Ostrow Wielkopolski municipality has offered bonds publicly, with several dozen other gminas conducting closed-end issues. The Malopolska province, with its capital in Krakow, will likely be the second to offer bonds, with a zl.70 million issue to be conducted together with some of the province's powiats. (Rzeczpospolita, p.B5) T.J.