Slovakia sells EUR 420.4mn in 2017, 2025 T-bonds.

By bne IntelliNews January 22, 2013
Slovakia borrowed on Jan 21 EUR 420.4mn through the sale of two government bond issues with maturities of 4 and 12 years, the finance ministrys Debt and Liquidity Management Agency (ARDAL) said. ARDAL sold EUR 223mn of the issue, which matures on January 19, 2017 and has a fixed annual coupon of 4.625%, at an average annual yield of 1.087%, down from 1.8199% achieved at the previous auction of the issue held on September 17, 2012. The 4-year bond attracted bids worth EUR 223mn, setting the bid to cover ratio at 1.25, down from 3.62 in September. Foreign investors placed bids worth EUR 123mn, of which EUR 113mn were approved. The minimum yield requested by investors was 1.02% and the maximum price was 1.26%. The cut-off price was 113.51%. This was the fourth domestic tranche of the issue, of which Slovakia sold EUR 1bn in January in a syndicated offering on the international markets. ARDAL sold also EUR 197.4mn of the issue, which carries an annual coupon of 4.35% and matures on October 14, 2025, at an average yield of 3.3796%, up from 3.3635%, achieved at the previous auction of the issue on December 10, 2012. The offer attracted bids worth EUR 265mn, setting the bid to cover ratio at 1.34, the same as in December. Foreign investors placed bids worth EUR 92mn, of which EUR 58.3mn were approved. The minimum yield requested by investors was 3.31% and the maximum yield was 3.50%. The cut-off price stood at 109.40%. This was the ninth tranche of the issue, first launched on February 7, 2011.

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