Poland to sell Euro denominated bonds post US shutdown
Poland had sold Euro denominated bonds soon after US solons had finalized a deal to increase the country's debt limit. This even caused a rally in the market for emerging market debt.
The largest eastern European economy in the Union priced the bonds at EUR700 million or USD956 million, greater than the first issued securities last January as this batch had a yield of 1.759% or 43 basis points above Euro mid swaps. This was confirmed by a person familiar with the transaction who sought anonymity on the matter as details were private in nature.
The returns for Poland's March 2023 US dollar denominated debt had decreased to its greatest depth in a month after US lawmakers had passed legislation to lift the partial government shutdown and extend the borrowing authority until next year. In a statement made last August 8 by Polish Deputy Finance Minister Wojciech Kowalczyk, Poland had financed nearly all of this year's borrowing until Sept 30, had set plans to sell bonds on the the international market by the fourth quarter of 2013.
Poland is rated A2 by Moody's Investors Service while Standard & Poor's rates them at A-, which is the same rating by Fitch Ratings.