Poland has returned to the green bond market after more than six years as it seeks a financing boost for its accelerating energy transformation.

The coal-reliant East European country is selling €1.2 billion ($1.4 billion) of 12-year green notes alongside €1.75 billion of regular seven-year euro bonds, according to a person familiar with the matter.

The green bonds are priced at about 120 basis points above midswaps after being marketed at about 150 basis points. The regular euro notes are 75 basis points above midswaps, also narrower than the initial price talk around the 110 basis-point area, the person said. Demand for the securities jointly topped €5.9 billion.

Poland, the first sovereign to offer securities designed to finance environmental projects in 2016, is venturing on the international debt market for a third time this year at a time the yield on its existing green bond due in 2029 hovers just above a three-year low at 2.50%.

It sold €3 billion in debt in January and followed with a $5.5 billion issue the following month. Citigroup Inc., Commerzbank AG, ING Groep NV and Banco Santander SA are arranging the green bond offering.

While Poland is more dependent on burning coal for electricity production than any other European Union nation, it has reduced reliance on dirty fuels with the help of aid and low-cost funds from the bloc.

The country aims to increase the share of renewable energy sources in its energy mix to 56% by 2030 and needs over €220 billion of investments in renewables and energy-grid upgrades to achieve the EU’s 2050 climate goals, the Finance Ministry said in its updated green bond framework.

— With assistance from Olga Voitova and Neil Chatterjee