Poland sells 955 mln zlotys of 5-yr, 20-yr bonds at switch tender

WARSAW (Thomson Financial) - Poland sold 524 mln zlotys of its 5-year bonds and 431 mln zlotys of 20-year papers at a switch tender today, in exchange for bonds coming due in months ahead, the finance ministry said in a statement.

The ministry said it also sold 767 mln zlotys of inflation-linked notes maturing in August 2016 at the tender.

Sales of the little-traded paper lower the ministry's need to issue its core fixed-rate bonds, which are the most liquid on debt markets.

Source: By Paweł Sobczak, forbes.com