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Slovakia cancels last planned government bond auction for 2011

Slovakia’s State Debt Management and Liquidity Agency (ARDAL) cancelled an auction of government bonds that was scheduled for December 12 that would have been the last auction this year, Juraj Pekár from ARDAL told the TASR newswire on December 5. An auction of treasury bills with a maturity period of 98 days will be held on December 12 instead. The last two auctions of state bonds did not go as well as planned. On November 14, ARDAL did not accept any offers, saying the offers were too disadvantageous for the state. Two weeks later on November 28 Slovakia sold €28 million in bonds with maturity periods of several years.

Slovakia’s State Debt Management and Liquidity Agency (ARDAL) cancelled an auction of government bonds that was scheduled for December 12 that would have been the last auction this year, Juraj Pekár from ARDAL told the TASR newswire on December 5. An auction of treasury bills with a maturity period of 98 days will be held on December 12 instead.

The last two auctions of state bonds did not go as well as planned. On November 14, ARDAL did not accept any offers, saying the offers were too disadvantageous for the state. Two weeks later on November 28 Slovakia sold €28 million in bonds with maturity periods of several years.

ARDAL reported that it is relying on selling short-term treasury bills for the time being. Two weeks ago, the state borrowed €260 million via sale of treasury bills and it sold another €124 million on December 5.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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