White & Case has advised the State Treasury of the Republic of Poland, represented by the Minister of Finance, on the issuance of a USD 3 billion dual-tranche Securities and Exchange Commission-registered transaction consisting of USD 1.5 billion five-year and USD 1.5 billion ten-year bonds. Linklaters advised lead managers BNP Paribas, Deutsche Bank, Goldman Sachs Bank Europe SE, Santander, and Societe Generale.
According to White & Case, “the five-year bonds are due November 16, 2027, and were priced at the level of 130 basis points over US Treasury Notes, yielding 5.619% with a coupon of 5.50% The ten-year bonds are due November 16, 2032, and were priced at the level of 175 basis points over US Treasury Notes, yielding 5.890% with a coupon of 5.75%. The issuance was executed under the Republic of Poland’s Shelf Programme registered with the Securities and Exchange Commission.”
White & Case’s team included Warsaw-based Local Partner Andrzej Sutkowski and Associates Damian Lubocki and Karolina Niedzielska and London-based Partner Jill Christie, Counsel Doron Loewinger, and Associate Callie Wallace.
Linklaters’ team included London-based Partner Pam Shores and Warsaw-based Managing Associate Szymon Renkiewicz and Associate Alexandra Kovaliouk.