refer:
"The Republic of Poland's 3s/5s dual-tranche Samurai has been pulled on the back of EU periphery widening sparked by the Irish debt problems. The EU sovereign debt concerns have taken its toll on Poland having pushed out the deal's spread to the wide-end of price guidance. As of yesterday, the last day of marketing, joint-leads Daiwa Capital Markets, Mitsubishi UFJ Morgan Stanley and Mizuho refined the price guidance to OS+90bp for the 3-year tranche and OS+105bp for the 5-year tranche, the wide-end of the OS+70bp-90bp and OS+85bp-105bp respective price ranges. A total size of around JPY45bn has been expected.
The Irish contagion has spread to the Samurai market. "Poland has effectively satisfied its total borrowing requirements for 2010 already and therefore agreed that the optimal course of action was to approach the market again once stable investor sentiment has returned," noted the leads in a statement."
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