Slovakia sells EUR 115mn in 2017 T-bonds, yields down.

By bne IntelliNews September 18, 2012
Slovakia sold on September 17 EUR 115mn of 2017 government bonds at an average annual yield of 1.81%, down from 2.60%, achieved at the previous auction of the issue on June 11, the finance ministrys Debt and Liquidity Management Agency (ARDAL) said. The issue, which matures on January 19, 2017 and has a fixed annual coupon of 4.625%, attracted bids worth EUR 415.9mn, setting the bid to cover ratio at 3.62, up from 1.12 in June. Foreign investors placed bids worth EUR 164.5mn, of which EUR 57mn were approved. The minimum yield requested by investors was 1.78% and the maximum price was 1.97%. The cut-off price stood at 111.58%. This was the third domestic tranche of the issue, of which Slovakia sold EUR 1bn in January in a syndicated offering on the international markets. Slovakia has already met its EUR 7.5bn borrowing needs for this year and is not under pressure to tap the markets.

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