Poland Yields Rise in First Eurobond Sale of 2011
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Poland’s borrowing costs rose in its first international bond sale of 2011 as Europe’s sovereign debt crisis drives yields higher.
The Finance Ministry sold 1 billion euros ($1.3 billion) in a second offering of its 4 percent bond due March 2021, according to an official announcement on Bloomberg. The debt was priced to yield 150 basis points more than the benchmark mid-swap, the announcement said. That compares with 120 basis points more than the mid-swap rate when the bond was first sold on Sept. 16.