Slovakia raises CHF 575mn in dual-tranche Swiss franc bond sale - report.

By bne IntelliNews March 19, 2013
Slovakia has raised CHF 575mn (EUR 469mn) in a dual-tranche bond issue denominated in Swiss francs, Reuters reported citing one of the lead managers. The issue is part of the central European countrys efforts to diversify its bond portfolio away from euro-denominated debt aiming to avoid a funding crisis like the one it suffered at the end of 2011. Slovakia priced a CHF 400mn 6.5-year issue at a spread of 75bps over mid-swaps to yield 1.424%. The second tranche of the issue was for CHF 175mn in 10.5-year bonds at 100bps over mid-swaps yielding 2.154%. Lead arrangers of the transaction are UBS and BNP Paribas. In January Slovak finance minister Peter Kazimir said the country will issue bonds denominated in US dollars and Japanese yen this year. In 2012 Slovakia sold on the international markets EUR 1bn in 2017 bonds, USD 1.5bn 10-year U.S. dollar-denominated government bonds and more than EUR 900mn of Swiss franc and Czech koruna denominated bonds.

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