Slovakia sells yen-denominated bonds for the first time

For the first time in its history, Slovakia has sold state bonds denominated in Japanese yen, valued at JPY30 billion (about €235.2 million), the TASR newswire reported on June 18.

For the first time in its history, Slovakia has sold state bonds denominated in Japanese yen, valued at JPY30 billion (about €235.2 million), the TASR newswire reported on June 18.

Both issues were offered exclusively to Japanese investors from different market sectors: banks, insurance companies and property administration companies, most of which were buying Slovak bonds for the first time.

The sales of the bond, payable on June 24, 2016 with a 0.72-percent coupon rate, yielded JPY25.8 billion, with the remaining JPY4.2 billion gained from the sale of a bond payable on June 25, 2018, and with a 0.99-percent coupon rate, the Slovak Debt and Liquidity Management Agency (ARDAL) informed.

Slovakia has become ninth central European state to issue so-called Samurai Bonds, with the Slovak issue representing the second-biggest debut among all these states. Moreover, the coupon rate was the lowest in the history of state debuts on the Japanese market, TASR wrote.

The bonds represent a great success for a country such as Slovakia, particularly in light of the fact that it was entering the Japanese market for the first time ever, said Finance Minister Peter Kažimír.

“These results serve as the best evidence of the confidence that foreign investors have in the reform efforts of the government and the tenable consolidation of public finances,” the minister said, as quoted by TASR.

Source: TASR

Compiled by Radka Minarechová from press reports
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