White & Case advises Polish State Treasury on issuance of US$5 billion dual-tranche of SEC registered notes by Republic of Poland

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 a US$5 billion dual-tranche Securities and Exchange Commission registered transaction consisting of US$2.5 billion 10-year and US$2.5 billion 30-year bonds.

The 10-year bonds are due October 4, 2033 and were priced at the level of 140 basis points over US Treasury Notes, yielding 4.968% with a coupon of 4.875%. The 30-year bonds are due April 4, 2053 and were priced at the level of 180 basis points over US Treasury Notes, yielding 5.585% with a coupon of 5.50%.

The issuance was executed under the Republic of Poland's Shelf Programme registered under the Securities and Exchange Commission. The lead managers on the transaction were BNP Paribas, Citigroup Global Markets Inc. (B&D), Goldman Sachs Bank Europe SE and J.P. Morgan SE.

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 Damian Lubocki, Michał Truszczyński (both Warsaw) and Shushi Hovannisian (London).

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