March 16, 2017 / 11:46 AM / 9 months ago

Poland revises pricing on dual-tranche euro issue

LONDON, March 16 (IFR) - The Republic of Poland has revised pricing on a dual-tranche euro issue, according to a lead.

The sovereign is marketing a long 10-year benchmark-sized bond at 55bp-57bp over mid-swaps, after initial price thoughts at 60bp area over.

Poland is marketing a tap of its outstanding January 2036 notes at mid-swaps plus 85bp-90bp. The reopening was initially marketed at plus 90bp-95bp.

Combined order books are over €2.2bn, with a skew towards the 10-year.

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 Robert Hogg; editing by Sudip Roy)

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