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Poland to offer EUR 0.9-2.1bn in T-bonds at 2 auctions in February

February 5, 2014

The ministry of finance plans to stage two auctions of Treasury bonds in February, offering notes with the total value of PLN 4.0-9.0bn (EYR 0.9-2.1bn). The first tender is due on Feb 6 - it will feature 2- and 5-year bonds (of series OK0716/ WZ0119) with the combined value of PLN 2.0-4.0bn. The second auction is planned for Feb 13 . The choice of notes on offer will depend on the market conditions, without bond offered on the first auction, the ministry announced. The final offer and the supply will be announced two days before the auction and will result from the market situation and consultations with investors. The ministry's public debt department director Piotr Marczak announced that after the January auctions, the ministry has realised 53% of the full-year state budget borrowing needs (totalling around PLN 132.5bn, or EUR 31.8bn ). The ministry earlier said that it put off the announcement of the February debt auctions schedule till Feb 4 (from the usual last working day of the preceding month) due to "recent disruptions in financial markets and the upcoming transfer of part of the assets" from privately-owned open pension funds (OFEs) to the Social Security Board (ZUS).


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Source: IntelliNews - Weekly Reports


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