Slovenia announces $1bn bond buyback

By bne IntelliNews August 24, 2016

The Slovenian ministry of finance announced on August 23 a $1bn buyback tender for three issues of dollar denominated bonds - its $1.7bn 5.5% issue due in 2022, $2.1bn 5.85% issue due in 2023 and its $1.7bn 5.25% issue due in 2024.

The country issued bonds on the US market in 2012, 2013 and 2014 in a time of economic turmoil but since implementing reforms and avoiding an international bailout and noticing that yields on its debt have fallen significantly, it decided to launch a bond buyback. It already bought back $1.25bn worth of bonds in May.

The ministry said on August 23 that the buyback ender is open until August 30 with the treasury offering repayment in eight days.

The volume of interest in the buyback tender is expected to be announced on August 31, pending a possible extension of the August 30 deadline, with the price to be determined later the same day.

In autumn 2012, Slovenia raised $ 2.25bn through an issue of 10-year bonds with a coupon rate of 5.5%. This was followed by a $ 2.5bn issue with a coupon rate of 5.85% in May 2013.

In the final debt action on the US market in February 2014, the country conducted a dual-tranche issue of five- and ten-year bonds worth a combined $3.5bn. The ten year bonds, which are subject to the buyback, carry a coupon rate of 5.25%.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Moody’s places Slovenia’s largest bank NLB on review for downgrade

Moody’s Investor Service announced that it has placed on review for downgrade the ratings of Slovenia’s largest lender Nova ... more

Slovenia’s president calls early parliamentary election for June 3

Slovenian's President Borut Pahor has dismissed the parliament and called early parliamentary elections for June 3, according to a ... more

European Commission claims Slovenia granted unlawful aid to NLB

Slovenia’s failure to privatise its largest lender Nova Ljubljanska Banka (NLB) by the December 31, 2017 deadline means the aid the government granted to the bank in 2013 was unlawful, the European ... more

Most Read

  1. Romanian developers get in the game
    4 days ago
  2. Putin and Trump trying to walk back Syria strike and sanctions tensions
    4 days ago
  3. What’s the cost of US sanctions on Russia?
    5 days ago
  4. E-commerce dramatically eats into foot traffic at Moscow’s leading shopping malls
    16 days ago
  5. Romania entrepreneur aims to put home-grown UAV defence technology industry on the map
    6 days ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    26 days ago
  2. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    13 days ago
  3. Romanian developers get in the game
    4 days ago
  4. KRUK REPORT: Nadia Savchenko, Ukraine’s fallen hero
    30 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    4 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss