October 18, 2016 / 12:57 PM / 10 months ago

Poland launches 1.25bn dual-tranche bond offering

LONDON, Oct 18 (IFR) - The Republic of Poland is poised to raise 1.25bn through an offering of 12 and 30-year bonds, according to a lead.

The sovereign has launched a 750m October 2028 bond at 48bp over mid-swaps and a 500m October 2046 note at plus 120bp.

The shorter bond is at the tight end of guidance of plus 50bp (plus or minus 2bp) and inside initial levels of plus 55bp area.

The longer note is at the tight end of initial price thoughts of plus 120-125bp.

The combined order books are over 1.75bn, with a skew towards the 12-year.

The transaction, rated A2/BBB+/A-, is expected to price today via Barclays, BNP Paribas, Citigroup, Commerzbank and Santander. (Reporting by Sudip Roy, editing by Julian Baker)

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