Poland sold zł.4.76 billion in bonds at a switch tender on Wednesday, the Finance Ministry said in a statement. The bonds will mature in 2015, 2019 and 2029.

The bonds were exchanged by the Finance Ministry for papers maturing in 2010.

Brokers believe the tender – the latest in a line of completed bond transactions – confirms investors' belief that Poland's economy has good growth and debt prospects.

“Demand was good, prices were good. So we had another successful tender, underpinning the already positive sentiment,” Maciej Słomka, chief fixed income dealer at Pekao Bank, told Reuters.

“The market rather took to heart recent comments from the Finance Ministry's debt department that if things go well, Poland may meet its borrowing needs by mid-year,” Mr Slomka added.

Mr Słomka also said yields were roughly unchanged from before the tender, with two-year bonds at 4.87 percent, five-year papers at 5.40 percent and 10-year bonds at 5.98 percent. (GP)

Source: Thomson Reuters