The Ministry of Finance priced a 7-year Swiss franc denominated bond maturing on September 17th, 2021 with the nominal amount of CHF 500 million. The high demand allowed to reach the yield 1.035 percent, which is historically the lowest level among all Polish bonds issued on CHF market. The bonds were priced 50 basis points over mid-swap rate. The annual coupon has been set at 1.000 percent.
The bonds were placed among diversified group of investors mostly from Switzerland (97 percent).
In terms of investor type, asset managers accounts dominated the orderbook - 34 percent, followed by treasury accounts with 30 percent, insurance companies - 22 percent, private banks – 9 percent and pension funds - 5 percent.
The issue was executed under Republic of Poland's Euro Medium Term Note (EMTN) Programme.
The lead managers on the transaction are UBS and Deutsche Bank.