Slovakia names lead managers of April syndicated bond issue.

By bne IntelliNews April 15, 2011
The finance ministrys Debt and Liquidity Management Agency (ARDAL) has mandated Barclays Capital, Deutsche Bank, ING and Slovenska sporitelna (SLSP) to manage a planned syndicated issue of 2020 bonds, TASR news agency informed. The value of the issue is expected at some EUR 1bn and the timing of the deal will depend on the market conditions. In January, ARDALs director Daniel Bytcanek said the state plans to raise up to EUR 4bn through syndicated bond issues in 2011. Totally EUR 8.5mn would be needed for debt refinancing and the remaining EUR 4.5bn debt would be placed on domestic market auctions open for foreign investors. The syndicated bonds issues were expected to happen in spring and autumn but details concerning the actual date depend on the situation on the financial markets. So far in 2011, ARDAL has placed approximately EUR 2bn in government bonds, including a syndicated EUR 1.25bn six-year issue and EUR 361.5mn T-bills. In 2010 the government raised EUR 7.1bn in bond issues on the financial markets, including EUR 2bn from the sale of syndicated 15-year benchmark bonds in October and EUR 1.5bn from a syndicated 10-year issue in April. Also, last year ARDAL placed EUR 2.4bn T-bills. SLSP is the largest bank in Slovakia and a member of Erste group.

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