White & Case advises Polish State Treasury on issuance of US$5.5 billion dual-tranche of SEC-registered notes

Global law firm White & Case LLP has advised the State Treasury of the Republic of Poland, represented by the Minister of Finance, on the issuance of US$5.5 billion dual-tranche Securities and Exchange Commission registered transactions consisting of US$2.75 billion 5-year and US$2.75 billion 10-year bonds.

The 5-year bonds are due February 12, 2030, and were priced at the level of 75 basis points over US Treasury Notes maturing on January 31, 2030, yielding 4.995% with a coupon of 4.875% per annum. The 10-year bonds are due February 12, 2035, and were priced at the level of 105 basis points over US Treasury Notes maturing on November 15, 2034, yielding 5.472% with a coupon of 5.375% per annum.

The issuance was executed under the Republic of Poland’s Shelf Programme registered under the Securities and Exchange Commission.

The joint book-running managers on the transaction were BNP PARIBAS, Deutsche Bank Aktiengesellschaft, Goldman Sachs Bank Europe SE and Banco Santander, S.A.

The White & Case team which advised on the transaction included partner Melissa Butler (London), local partner Andrzej Sutkowski (Warsaw), counsel Doron Loewinger and Bree Peterson (both London) and associates Michał Truszczyński (Warsaw) and Diala Kakish (London).

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