White & Case has advised the State Treasury of the Republic of Poland – represented by its Minister of Finance – on an USD 8 billion issuance of notes registered with the US Securities and Exchange Commission under its shelf registration statement. Rymarz Zdort Maruta and Latham & Watkins advised the underwriters.
Citigroup, Deutsche Bank, JP Morgan, and Santander worked as joint book-running managers on the transaction.
According to White & Case, "this is the largest State Treasury bond issuance in the US dollar market." The transaction included three tranches of bonds: USD 1.5 billion in 4.625% bonds due 2029; USD 3 billion in 5.125% bonds due 2034; and USD 3.5 billion in 5.5% bonds due 2054.
The White & Case team included Warsaw-based Local Partner Andrzej Sutkowski and Associates Damian Lubocki and Michal Truszczynski, as well as further team members in London.
The Rymarz Zdort Maruta team included Partner Lukasz Gasinski and Counsel Adam Puchalski.
The Latham & Watkins team was led by London-based Partner David Stewart and Washington DC-based Partner Paul Dudek.
