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State to issue bonds at least twice in 2014

WHILE considering several alternatives dependent on developments on financial markets and the specific demand among investors, Slovakia's Debt and Liquidity Management Agency (ARDAL) is planning to issue new state bonds at least twice next year, ARDAL's Juraj Pekár told the TASR newswire.

WHILE considering several alternatives dependent on developments on financial markets and the specific demand among investors, Slovakia's Debt and Liquidity Management Agency (ARDAL) is planning to issue new state bonds at least twice next year, ARDAL's Juraj Pekár told the TASR newswire.

The alternatives under consideration include issuing state bonds that will mature in 15 or more years with a target volume of €3 billion; issuing state bonds with a 5-year maturity period of a target volume of €1.5 billion or €3 billion; or issuing state bonds maturing in 7 years worth €3 billion. Also being considered is the alternative of issuing bonds in US dollars of benchmark size and tenure, TASR wrote.

"Further bond lines can be opened according to the needs of debt management and the demands of investors," said Pekár as quoted by TASR.

The agency is set to hold state bond auctions once a month in 2014, usually on the third Monday in the month. If required due to the aforementioned conditions, a single day may see several lines of bonds auctioned at the same time.

ARDAL has also envisaged engaging in two issues of state treasury bills with a one-year maturity period - the first to be held in April and the second in October 2014. They should entail €500 million each.

Source: TASR

Compiled by Michaela Terenzani from press reports
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