Rymarz Zdort Maruta advises in connection with USD 5.5 billion treasury bond issuance

We are pleased to announce that Rymarz Zdort Maruta provided advice on Polish law to underwriters in connection with the issuance by the State Treasury of the Republic of Poland, represented by the Minister of Finance, of USD 5.5 billion worth of treasury bonds on the US market.

The transaction involved the issuance on 12 February 2025 of: (i) USD 2.75 billion worth of bonds due in 2030 and bearing interest at the rate of 4.875% per annum; and (ii) USD 2.75 billion worth of bonds due in 2035 and bearing interest at the rate of 5.375% per annum.

The issuance of the bonds was conducted on the US market on the basis of, among other things, the Prospectus Supplement filed with the United States Securities and Exchange Commission (SEC).

Advice on US law was provided by the law firm Latham & Watkins, with which Rymarz Zdort Maruta cooperated closely.

This is another such transaction advised by Rymarz Zdort Maruta, following last year’s USD 8 billion Polish treasury bond issue on the US dollar market, which was the largest such issue in history.

The transaction team included Dr hab. Łukasz Gasinski (a partner and the head of the Financial Regulatory team), Dr Adam Puchalski, Ph.D. (counsel) and Przemyslaw Kopka (senior associate).