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Investors jump at Slovak bondsBusiness in short
20 Jan 2014 Compiled by Spectator staff Business
SLOVAK government bonds, of the new 15-year benchmark euro-bond emission, were in demand during the January 10 auction. As many as 170 investors placed orders worth €4 billion, the Debt and Liquidity Management Agency (ARDAL) reported, according to the SITA newswire.
The first transaction of 2014 thus ended for Slovakia with the sale of bonds worth €1.5 billion. Bond interest yield was at 3.625 percent p.a.
“Distribution and strong participation of investors again confirmed the appreciation of the quality and attractiveness of the Slovak Republic as an issuer,” ARDAL wrote, as reported by SITA.
Most bonds were sold to investment funds, with the share of 44 percent, followed by insurance companies and funds that bought 36 percent. Banks bought 17 percent and other investors 3 percent. Half of the investors came from Germany and Austria, while others were from the UK, Ireland and France (each 11 percent of all investors). The remaining investors were from all around Europe.
“For the first time Slovakia managed to emit such a bond with such a low interest rate, therefore we can state that it is the cheapest 15-year Slovak bond in history,” Kažimír said, as quoted by SITA.
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