Slovakia sells EUR 211.5mn 3-year t-bonds, avg yield set at 2.7%.

By bne IntelliNews October 18, 2011
Slovakia sold at an auction on October 17 EUR 211.5mn of 3-year t-bonds, the Finance Ministrys Debt and Liquidity Management Agency (ARDAL) said on its website. The auction attracted bids worth EUR 247.5mn, setting the bid-to-cover ratio at 1.17, down from 1.60 at the previous 3-year bond auction, held on July 11. Foreign investors placed bids for a total EUR 56.5mn, but managed to buy bonds for EUR 41.5mn. The government bonds have a zero coupon and mature on April 7, 2014. The average annual yield achieved at the auction was 2.7%, down from 3% in July. The minimum yield was 2.56% and the maximum yield was 2.75%. The average accepted price rose to EUR 93.68 from EUR 92.29, while the cut-off price grew to EUR 93.53 from EUR 92.17. Slovakia has sold government securities for over EUR 2.35bn in 17 government bond auctions so far. Totally, ARDAL has placed some EUR 4.76bn in government bonds, including a syndicated EUR 1.25bn six-year issue, a syndicated EUR 1bn issue maturing in 2020 and EUR 633mn in T-bills. In 2010 ARDAL raised EUR 7.09bn in bond sales, significantly more than the previous years EUR 4.21bn, due to increased needs to refinance the state budget deficit. The government securities placed in 2010 included EUR 3.5bn in syndicated loans and EUR 2.42bn in T-bills.

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