March 16, 2017 / 12:56 PM / 4 months ago

Poland revises pricing on dual-tranche euro bonds

1 Min Read

LONDON, March 16 (IFR) - Poland will issue a €750m-€1bn October 2027 bond at 55bp over mid-swaps, according to a lead.

It will also issue an expected €500m tap of its January 2036 notes. Pricing on that deal will be between 83bp and 85bp over mid-swaps.

Combined books are in excess of €2.5bn with a skew to the shorter deal.

The long 10-year will price at the tight end of the 55bp-57bp guidance, after initial price thoughts at 60bp area.

Guidance on the January 2036 tap was at plus 85bp-90bp. The reopening was initially marketed at plus 90bp-95bp.

The bookrunners are Barclays, BNP Paribas, Commerzbank, ING, JP Morgan and PKO Bank Polski.

The deal is today's business.

Poland is rated A2/BBB+/A-. (Reporting by Sudip Roy, editing by Julian Baker)

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