Dollar Funding Loses Allure as Poland Sells Cheapest Euro Bond

March 31, 2015 8:15 AM

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(Bloomberg) -- The European Central Bank is tempting Poland to refinance its dollar debt by cutting the nation’s cost of borrowing in euros to 1 percent.

The Polish government issued 1 billion euros ($1.1 billion) of bonds Monday despite having no debt due in the currency this year and $1.83 billion owing in dollars. The yield on the new notes due March 2027 was a record low 1.02 percent, a fraction of the 2.72 percent rate on dollar debt due three y...

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