Poland to issue up to 1 bln USD worth of bonds

• Source: Xinhua
• [11:29 July 07 2009]
• Comments

Poland is planning to issue USD- denominated 10-year bonds worth from 500 million to 1 billion US dollars, the Finance Ministry said on Monday.

"The prospectus has been filed with the US securities commission and is valid from Thursday. The transaction will be carried out in the near future, depending on market conditions," the ministry said in a statement.

Poland, the largest of the European Union's eastern members, takes the move to create new benchmark securities for government and corporate borrowers in the central and eastern European region, according to local media reports.

Last time Poland issued USD-denominated bonds in 2005.

Poland has financed 55 percent of this year's loan needs at 37. 8 billion zlotys (about 12 billion US dollars), according to Finance Ministry's data.