Slovakia to auction 2016, 2023 T-bonds on Sep 16

By bne IntelliNews September 5, 2013

Slovakia will offer two government bond issues with 3.2 years and 9.5 years to maturity at its seventh auction for this year scheduled for September 16, the finance ministry's Debt and Liquidity Management Agency (ARDAL) said.

ARDAL will offer for sale a floating rate bond issue, which matures on November 16, 2016 and carries a coupon equal to the six-month EURIBOR. This will be the 10th tranche of the issue. At the latest action of the issue, held on May 20, 2013, ARDAL sold EUR 87mn of the bond at an average price of 98.4902%. Now, the government expects to sell EUR 50mn worth of the paper.

ARDAL will offer also a fixed annual coupon of 3.0% and matures on February 28, 2023. This will be the third tranche of the issue. At the previous auction of the bond, held on June 17, 2013, ARDAL sold EUR 112mn at an average yield of 2.4484%. Now, it expects to sell EUR 50mn of the issue.

ARDAL held no auctions in July and August as the government’s financing needs in the 2013 budget have been filled to almost 90%. Slovakia’s borrowing target for 2013 has been set at EUR 8.3bn.

ARDAL repeated also its intention to buy back part of two bond issues maturing in 2014 (SD 202 and SD 217).

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