Slovakia rejects all bids for 5-year T-bonds.

By bne IntelliNews November 15, 2011
Slovakia rejected on November 14 all bids for a new five-year floating-rate bond issue, the finance ministrys Debt and Liquidity Management Agency (ARDAL) said. Demand was low, as ARDAL received bids worth a total of EUR 13mn at an average price of EUR 92.49, all from local investors. The issue has a floating interest rate indexed to the six-month EURIBOR and matures on November 16, 2016. ARDAL has sold so far this year EUR 4.6bn of government bonds, including EUR 2.25bn in syndicated loans, out of the planned EUR 8bn to EUR 8.5bn worth of debt issuance in 2011. 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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