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Slovakia to float 20-year eurobond

SLOVAKIA will issue a 20-year eurobond totaling Sk40 billion (€1.1 billion) on the local market.

The bonds will have a fixed yield of 4.5 percent. The national Debt and Liquidity Management Agency will subscribe them in the course of 10 years, until it reaches the maximum volume of the issue. The first auction is scheduled for May 5.

The bonds will allow the country to distribute its debt servicing over a longer period, Finance Minister Ivan Mikloš said.

"Slovakia has already floated a 15-year eurobond [totaling €1 billion] this year, and the issue of the 20-year bond on the local market indicates the positive development of the overall economy," Mikloš said.

The 15-year eurobond was the first Slovak issue within the Euro Medium Term Note program, which enables Slovakia to annually place eurobonds of up to €2 billion on European capital markets.

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