Slovakia raised on Thursday (May 23) EUR 1bn from the sale of a 5.5-year euro-denominated benchmark issue on the international markets, SME.sk reported, quoting information from the finance ministry’s Debt and Liquidity Management Agency (ARDAL).
Interest from international investors has been strong with bids worth EUR 2.81bn received. The bonds have a fixed annual coupon of 1.5% and mature on November 28, 2018. They were sold at a yield to maturity of 1.6%, setting the final spread at 65bps over mid-swaps area. According to the government, the bond was the cheapest on record.
Following the Thursday bond sale, Slovakia has already fulfilled close to 80% of its borrowing target of EUR 8.3bn for 2013.
Slovakia, rated A2 by Moody’s, A by S&P and A+ by Fitch, tapped the international debt markets last in February. It sold then EUR 1.75bn worth of a 10-year bond amid strong demand with bids reaching EUR 2.2bn, which helped push borrowing costs down to record lows. The bonds, which carry a 3% coupon, were sold at a yield to maturity of 3.13%, which corresponded to a spread of 122 bps over mid-swaps.
In November 2012, Slovakia sold EUR 1.25bn worth of 12-year government bonds with a coupon of 3.375% at a spread of 150bps over mid-swaps.
Slovakia's National Criminal Agency (NAKA) have taken Italian businessman Antonino Vadala and six other people in for interrogation following the mafia-style assassination of journalist Jan ... more
A survey has found that most Czechs remain positive towards Europe, with 54% of respondents saying they would like to stay in the European Union and 34% stating they would be in favour of a ... more
An explosion at the site of Austrian OMV’s Baumgarten natural gas hub has interrupted gas transit to Italy, Slovenia and Hungary, the Austrian government’s electricity and gas markets regulator ... more