BUSINESS IN SHORT

Four banks manage Slovak bond issue

FOUR banks teamed up to manage Slovakia’s issue of 15-year euro-denominated bonds.

FOUR banks teamed up to manage Slovakia’s issue of 15-year euro-denominated bonds.

The Finance Ministry’s Debt and Liquidity Management Agency (ARDAL) announced that it had chosen HSBC, Société Générale CIB, Tatra Banka and UniCredit Bank Slovakia to manage the bond issue, the SITA newswire wrote.

“The Slovak bond will be issued in accordance with Slovak legislation and listed on the Bratislava Stock Exchange (BCPB),” SITA reported, quoting an ARDAL statement.

On October 6 ARDAL successfully auctioned €2 billion in 15-year bonds. Bids worth more €4 billion were received. “If investors did not trust the government’s fiscal consolidation plan the risk premium demanded on these bonds would have approached Greek levels,” said Slovenská Sporiteľňa analyst Juraj Barta, as quoted by the Sme daily. In fact, Slovakia’s bonds were issued with a yield lower than that currently demanded for Spanish or Polish government bonds.


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