Poland Met 51% of 2013 Financing Needs as of End-February

By Marynia Kruk

WARSAW--Poland had met 51% of its 2013 financing needs as of the end of February, and plans to meet investors' demand for debt issues with longer maturities at its planned March switching auction, a Polish Finance Ministry official said in a news release Thursday.

"At the switching tender, we are offering the type of bonds for which [investors] express the greatest demand, long- term bonds with fixed interest rates, as well as long-term bonds with variable exchange rates," said Piotr Marczak, director of the Finance Ministry'sPublic Debt Department.

He added that market conditions will determine supply at the ministry's standard March bond tender.

In January, and then in February, foreign investors increased their holdings of Polish government debt by 5.1 billion zlotys ($1.6 billion) each month, bringing their total holdings of the country's debt to PLN195.6 billion, a historic high, Mr. Marczak said.

Write to Marynia Kruk at marynia.kruk@dowjones.com or Patryk Wasilewski at patryk.wasilewski@dowjones.com.

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  02-28-131021ET
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