Slovenian SID Bank’s €350mn “coronabonds” issue oversubscribed

By bne IntelliNews July 2, 2020

Slovenia’s SID Bank successfully issued COVID-19 bonds worth €350mn on international capital markets, the bank announced on July 2.

The state-owned bank will use the funds raised to help the Slovenian economy to alleviate the consequences of the crisis related to the coronavirus (COVID-19) pandemic.

According to the bank, the funds will make it easier for companies to overcome temporary liquidity problems, as well as speed up technological and sustainable transformations, which will enable the restoration of economic growth and the provision of quality jobs.

According to SID Bank, demand for the bonds exceeded expectations and amounted to a total of more than €700mn. This enabled SID Bank to achieve a very favourable yield of 0.14% on the 5-year bonds.

SID Bank is a promotional development and export bank that is 100% state-owned. Its objective is to promote sustainable development and improve the competitiveness of the Slovenian economy.

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