Poland: bonds

The Ministry of Finance of Poland is responsible for new government bond issues on behalf of the State Treasury. Polish sovereign debt market is the most developed in CEE region. According 2012 statistics the total amount of outstanding local bonds were USD 170.8 billion, while the outstanding eurobonds cost USD 64 billion.

Local government bond market has two main directions of retail bonds, which are dedicated for private investors, and T-bonds and T-bills, which serves for institutional investors purposes. Every month there are four series of retail bonds on 2, 3, 4 and 10 years to maturity date. Ministry of Finance organizes auctions of coupon T-bonds and zero-coupon T-bills. The eurobonds are nominated mainly in EUR, JPY and USD.

The main liquidity on a public debt market is concentrated on two trade systems of Catalyst bond market: BondSpot, dedicated for institutional investors, and Warsaw Stock Exchange, where private investors are involved.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
PLN 270 707 864 927 500
EUR 27 34 947 000 000
JPY 11 362 600 000 000
USD 7 14 350 000 000
CHF 4 2 530 000 000
CNY 1 3 000 000 000
municipal
PLN 78 3 837 639 000
EUR 1 55 000 000
corporate
PLN 718 75 476 095 272
EUR 73 10 670 550 110
USD 4 2 301 000 000
CZK 2 830 000 000
CNY 1 250 000 000
CHF 1 200 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
RIA Rating *** Sovereign ratings ***
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
Fitch Ratings *** National Scale (Poland) ***
Rating Agency RAEX (Expert RA) *** Foriegn curr. scale ***
Rating Agency RAEX (Expert RA) *** Local curr. scale ***
National Rating Agency *** Global scale ***
Registration required. Please log in or fill in the registration form.

Latest bond issues

issue ISIN coupon volume end of placement maturity date
YOLO, FRN 30sep2019, PLN (F) - Domestic bonds 7.99% 8 000 000  PLN 09/30/2017 09/30/2019
Poland, 2.1 1jul2019 (DOS0719) - Domestic bonds PL0000110029 2.1% 1 000 000 000  PLN 07/31/2017 07/01/2019
Poland, 2.2 1jul2020 (TOZ0720) - Domestic bonds PL0000110052 2.2% 500 000 000  PLN 07/31/2017 07/01/2020
Poland, 2.4 1jul2021 (COI0721) - Domestic bonds PL0000110037 2.4% 0  PLN 07/31/2017 07/01/2021
Poland, 2.7 1jul2027 (EDO0727) - Domestic bonds PL0000110045 2.7% 500 000 000  PLN 07/31/2017 07/01/2027
Poland, 2.8 1jul2023 (ROS0723) - Domestic bonds PL0000110060 2.8% 500 000 000  PLN 07/31/2017 07/01/2023
Poland, 3.2 1jul2029 (ROD0729) - Domestic bonds PL0000110078 3.2% 500 000 000  PLN 07/31/2017 07/01/2029
PKO Bank Polski, 0.75% 25jul2021, EUR - International bonds XS1650147660 0.75% 750 000 000  EUR 07/18/2017 07/25/2021
Indata, 8% 17jul2019, PLN (A) - Domestic bonds 8% 5 000 000  PLN 07/17/2017 07/17/2019
Kleba Invest, 7% 11jan2019, PLN (A3) - Domestic bonds 7% 1 700 000  PLN 07/11/2017 01/11/2019

Cbonds Bond Market Indices

Daily indices

Type: 08/16/2017 08/15/2017 08/14/2017 08/11/2017 08/10/2017 08/09/2017 08/08/2017
Euro-Cbonds Sovereign Poland
Euro-Cbonds Sovereign Poland  152.14 152.13 152.17 152.09 152.17 152.13 152.01
Euro-Cbonds Sovereign Poland PI 106.04 106.05 106.08 106.07 106.14 106.12 106.05
Euro-Cbonds Sovereign Poland D 1 555.00 1 556.00 1 557.00 1 561.00 1 561.00 1 563.00 1 563.00
Euro-Cbonds Sovereign Poland YTM 2.52 2.51 2.51 2.51 2.50 2.51 2.52
Euro-Cbonds Sovereign Poland YTM eff 2.53 2.53 2.53 2.53 2.52 2.52 2.54
Euro-Cbonds Sovereign Poland (EUR)
Euro-Cbonds Sovereign Poland EUR  157.53 157.51 157.52 157.53 157.52 157.54 157.46
Euro-Cbonds Sovereign Poland EUR PI 117.24 117.24 117.25 117.29 117.29 117.31 117.26
Euro-Cbonds Sovereign Poland EUR D 2 229.00 2 231.00 2 231.00 2 235.00 2 235.00 2 236.00 2 237.00
Euro-Cbonds Sovereign Poland EUR YTM 1.04 1.04 1.04 1.04 1.04 1.04 1.04
Euro-Cbonds Sovereign Poland EUR YTM eff 1.04 1.04 1.04 1.04 1.04 1.04 1.04
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Exchange Bond Indices

Daily indices

Type: 08/17/2017 08/16/2017 08/14/2017 08/11/2017 08/10/2017 08/09/2017 08/08/2017
TBSP Index
Treasury BondSpot Poland Index  1 733.38 1 730.88 1 730.71 1 729.12 1 730.59 1 731.78 1 732.54
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World Bond Market Indicators

Monthly indices

Type Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
EU Long-term interest rates
Poland, % 3.30 3.19 3.35 3.42 3.66 3.81 3.68
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World Bond market statistics

Monthly indices

Type Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
Domestic government bond market (Eastern Europe)
Polish govt Bonds outst., EUR bln (without Bills) 197.01 205.34 206.27 202.16 201.87 195.21 191.12
Number of new government bond issues, Poland 0 15 7 5 8 7 6
New issues of government bonds, Poland, EUR bln 0.00 2.76 2.74 3.30 3.51 3.46 4.73
New issues of government bonds, Poland, USD mln 0.00 3 090.13 3 062.22 3 579.85 3 713.31 3 702.72 5 038.90
Domestic corporate bond market (Eastern Europe) (without bills)
Polish corporate bonds outst., EUR bln 18.79 19.21 19.47 19.39 19.17 18.73 18.32
New issues of corporate bonds, Poland, USD mln 0.00 0.00 0.00 0.00 0.00 0.00 0.00
New issues of corporate bonds, Poland (fin. sector), USD mln 0.00 0.00 0.00 0.00 0.00 0.00 0.00
New issues of corporate bonds, Poland (non-fin. sector), USD mln 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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Quarterly indices

Type I 2017 IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015
BIS volume of international-bond market of emerging countries
Polish international bonds, USD bln 65.000 65.000 64.900 65.900 64.100 63.000 64.600
BIS net issues of international-bond market of emerging countries
International-bond net issue of Poland, USD bln 0.800 3.100 1.300 3.200 -1.000 -0.300 0.700

Polish Bond Market statistics

Daily indices

Type: 08/16/2017 08/15/2017 08/14/2017 08/11/2017 08/10/2017 08/09/2017 08/08/2017
Turnover of financial market segments (Poland)
Governement bond turnover on Treasure BondSpot Poland, PLN ths 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Number of deals with government bonds on Treasure BondSpot Poland 0 0 0 0 0 0 0
Number of government bond issues traded on Treasure BondSpot Poland 0 0 0 0 0 0 0
Governement bond turnover on Warsaw SE, PLN ths 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Number of deals with government bonds on Warsaw SE 0 0 0 0 0 0 0
Number of government bond issues traded on Warsaw SE 0 0 0 0 0 0 0
Corporate bond turnover on Warsaw SE, PLN ths 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Number of deals with corporate bonds on Warsaw SE 0 0 0 0 0 0 0
Number of corporate bond issues traded on Warsaw SE 0 0 0 0 0 0 0
Municipal bond turnover on Warsaw SE, PLN ths 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Number of deals with municipal bonds on Warsaw SE 0 0 0 0 0 0 0
Number of municipal bond issues traded on Warsaw SE 0 0 0 0 0 0 0
Corporate bond turnover on BondSpot, PLN ths 0.00 0.00 0.00 0.00 0.00 0.00 0.00
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Monthly indices

Type Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
Turnover of financial market segments (Poland)
Government bond turnover on Treasure BondSpot Poland, PLN mln 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Governement bond turnover on Warsaw SE, PLN mln 7.76 25.45 25.46 23.19 39.94 23.70 26.55
Corporate bond turnover on Warsaw SE, PLN mln 30.77 87.87 86.93 75.59 80.23 90.17 94.10
Municipal bond turnover on Warsaw SE, PLN mln 0.00 0.54 0.00 0.52 0.06 0.04 0.21
Corporate bond turnover on BondSpot, PLN mln 5.56 2.57 131.96 6.70 35.81 14.23 5.52
Corporate bond market (Poland)
Corporate bonds outst., Poland, PLN mln 76 834.11 78 036.83 78 275.33 78 871.10 78 084.54 78 065.65 76 609.51
Financial inst. bonds outst., Poland, PLN mln 53 671.10 54 704.13 51 994.10 52 030.11 51 197.41 51 649.80 50 618.67
Non-financial inst. bonds outst., Poland, PLN mln 23 097.01 23 044.81 23 102.12 26 487.63 26 634.29 26 318.35 25 679.78
Mortgage bonds outst., Poland, PLN mln 5 629.80 5 629.80 5 564.80 5 565.37 5 265.37 5 265.37 5 240.47
Cooperative bonds outst., Poland, PLN mln 605.09 605.09 605.09 605.09 565.09 566.69 566.69
New issues of corporate bonds, Poland, PLN mln 113.20 3 210.22 1 749.32 1 182.91 968.24 1 744.51 728.42
New issues of financial inst. bonds, Poland, PLN mln 0.00 2 889.72 1 468.34 1 049.26 477.79 1 638.80 642.00
New issues of non-financial inst. bonds, Poland, PLN mln 113.20 319.50 280.97 133.64 490.45 105.71 326.42
New issues of mortgage bonds, Poland, PLN mln 0.00 265.00 0.00 500.00 0.00 24.90 0.00
New issues of cooperative bonds, Poland, PLN mln 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Number of corporate bonds issues, outst., Poland 774 790 789 781 755 732 698
Number of financial inst. bonds issues , outst., Poland 404 412 404 398 381 379 370
Number of non-financial inst. bonds issues, outst., Poland 367 366 360 368 365 344 320
Number of mortgage bonds issues, outst., Poland 46 46 46 46 46 46 45
Number of cooperative bonds issues, outst., Poland 34 34 34 34 32 33 33
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Periodic indices

Type: Current value Change Last update
Government bond market (Poland)
Treasury bonds outst., Poland, PLN mln 844 137.61 -29724.69 31.07.2017
New issues of treasury bonds, Poland, PLN mln 3 000.00 -500 31.07.2017
Number of treasury bonds issues, outst., Poland 279 0 31.07.2017
Municipal bond market (Poland)
Municipal bonds outst., Poland, PLN mln 3 822.24 0 31.07.2017
New issues of municipal bonds, Poland, PLN mln 0.00 0 31.07.2017
Number of municipal bonds issues, outst., Poland 78 0 31.07.2017

Emerging Markets International Bonds

Monthly indices

Type Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
Eastern Europe International Bonds Markets
Poland Eurobonds, USD bln 76.085 74.355 72.986 71.778 71.305 71.615 73.097
Poland’s sovereign eurobonds, USD bln 62.062 60.673 60.049 58.966 58.416 58.670 59.414
Poland’s sovereign EUR eurobonds, USD bln 41.363 39.918 39.272 38.061 37.274 37.561 38.280
Poland’s sovereign USD eurobonds, USD bln 14.350 14.450 14.450 14.450 14.450 14.450 14.450
Poland’s sovereign CHF eurobonds, USD bln 2.615 2.639 2.613 2.542 2.775 2.768 2.811
Poland’s sovereign JPY eurobonds, USD bln 3.288 3.224 3.274 3.478 3.482 3.454 3.437
Poland’s corporate eurobonds, USD bln 13.958 13.619 12.876 12.752 12.831 12.887 13.624
Poland’s municipal eurobonds, USD bln 0.065 0.063 0.062 0.060 0.059 0.058 0.059
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Currencies

Daily indices

Type: 08/17/2017 08/16/2017 08/15/2017 08/14/2017 08/13/2017 08/12/2017 08/11/2017
Exchange Rates (Emerging Markets)
CHF/PLN  3.7569 3.7403   3.7559     3.7975
CNY/PLN  0.5434 0.5442   0.5439     0.5468
EUR/PLN  4.2541 4.2724   4.2823     4.2851
GBP/PLN  4.6738 4.6970   4.7084     4.7276
JPY/PLN  0.0330 0.0329   0.0331     0.0335
RUB/PLN  0.0612 0.0611   0.0606     0.0606
UAH/PLN  0.1422 0.1425   0.1415     0.1418
USD/PLN  3.6353 3.6451 3.6601 3.6334 3.6387 3.6271 3.6355
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Interbank market

Daily indices

Type: 08/16/2017 08/15/2017 08/14/2017 08/11/2017 08/10/2017 08/09/2017 08/08/2017
WIBID
WIBID ON 1.31 1.32 1.32 1.32 1.31 1.30 1.31
WIBID TN 1.31 1.31 1.31 1.32 1.31 1.31 1.31
WIBID 1W 1.40 1.40 1.40 1.40 1.40 1.40 1.40
WIBID 2W 1.42 1.42 1.42 1.42 1.42 1.42 1.42
WIBID 1M 1.46 1.46 1.46 1.46 1.46 1.46 1.46
WIBID 3M 1.53 1.53 1.53 1.53 1.53 1.53 1.53
WIBID 6M 1.61 1.61 1.61 1.61 1.61 1.61 1.61
WIBID 9M 1.63 1.63 1.63 1.63 1.63 1.63 1.63
WIBID 1Y 1.65 1.65 1.65 1.65 1.65 1.65 1.65
WIBOR
WIBOR ON 1.58 1.58 1.58 1.59 1.58 1.58 1.58
WIBOR TN 1.58 1.58 1.58 1.59 1.58 1.58 1.58
WIBOR 1W 1.59 1.59 1.59 1.59 1.59 1.59 1.59
WIBOR 2W 1.62 1.62 1.62 1.62 1.62 1.62 1.62
WIBOR 1M 1.66 1.66 1.66 1.66 1.66 1.66 1.66
WIBOR 3M 1.73 1.73 1.73 1.73 1.73 1.73 1.73
WIBOR 6M 1.81 1.81 1.81 1.81 1.81 1.81 1.81
WIBOR 9M 1.83 1.83 1.83 1.83 1.83 1.83 1.83
WIBOR 1Y 1.85 1.85 1.85 1.85 1.85 1.85 1.85
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Money market

Daily indices

Type: 03/30/2015 03/27/2015 03/26/2015 03/25/2015 03/24/2015 03/23/2015 03/20/2015
IRS PLN 
IRS PLN 1Y Act/Act Qtly vs 3M WIBOR bid * * * * * * *
IRS PLN 1Y Act/Act Qtly vs 3M WIBOR ask * * * * * * *
IRS PLN 1Y Act/Act Qtly vs 3M WIBOR mid * * * * * * *
IRS PLN 1Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 1Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 1Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 2Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 2Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 2Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 3Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 3Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 3Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 4Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 4Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 4Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 5Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 5Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 5Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 6Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 6Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 6Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 7Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 7Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 7Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 8Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 8Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 8Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 9Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 9Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 9Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 10Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 10Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 10Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 12Y Actual/365 Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 12Y Actual/365 Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 12Y Actual/365 Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 15Y Act/Act Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 15Y Act/Act Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 15Y Act/Act Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 20Y Actual/365 Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 20Y Actual/365 Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 20Y Actual/365 Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 25Y Actual/365 Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 25Y Actual/365 Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 25Y Actual/365 Ann vs 6M WIBOR mid * * * * * * *
IRS PLN 30Y Actual/365 Ann vs 6M WIBOR bid * * * * * * *
IRS PLN 30Y Actual/365 Ann vs 6M WIBOR ask * * * * * * *
IRS PLN 30Y Actual/365 Ann vs 6M WIBOR mid * * * * * * *
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Periodic indices

Type: Current value Change Last update
Central Banks Rates
Reference Rate (Poland), %  1.50 -0.5 04.03.2015

Credit Risk Indicators

Daily indices

Type: 08/14/2017 08/11/2017 08/10/2017 08/09/2017 08/08/2017 08/07/2017 08/04/2017
CDS Interactive Data 
CDS 6M Poland * * * * * * *
CDS 1Y Poland * * * * * * *
CDS 2Y Poland * * * * * * *
CDS 3Y Poland * * * * * * *
CDS 4Y Poland * * * * * * *
CDS 5Y Poland * * * * * * *
CDS 7Y Poland * * * * * * *
CDS 10Y Poland * * * * * * *
CDS 15Y Poland * * * * * * *
CDS 20Y Poland * * * * * * *
CDS 30Y Poland * * * * * * *
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mBank

Daily indices

Type: 08/16/2017 08/14/2017 08/11/2017 08/10/2017 08/09/2017 08/08/2017 08/07/2017
mBank Polish Corporate Bond Index
mBank Polish Corporate Bond Index  127.11 126.98 126.96 126.92 126.99 126.91 126.93
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Macroeconomic Indicators (World economy)

Quarterly indices

Type IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015 II 2015
International Reserves
Poland International Reserves, USD bln 114.392 111.919 110.267 100.532 97.447 100.813 104.061
External Debt
Poland Gross External Debt, USD bln   352.418 344.933 340.515 329.445 343.301 341.560
Poland Government External Debt, USD bln   137.831 133.937 133.544 136.382 137.809 134.822
Poland Corporate External Debt, USD bln   214.587 210.996 206.000 193.063 197.882 197.891

Stock market (World)

Daily indices

Type: 07/13/2017 07/12/2017 07/11/2017 07/10/2017 07/07/2017 07/06/2017 07/05/2017
Stock market (Eastern Europe)
WIG20 (Poland)  2 350.83 2 341.54 2 297.73 2 300.66 2 295.82 2 300.74 2 307.49
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