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Slovakia sells €260 million in two bond auctions

SLOVAKIA borrowed more than €260 million on the financial market on March 17, the SITA newswire reported.

SLOVAKIA borrowed more than €260 million on the financial market on March 17, the SITA newswire reported.

Bonds were offered in two auctions. In the first auction, of bonds maturing in January 2017, securities worth €129.4 million were sold, with foreign investors buying bonds for €67 million. In the second auction, the state sold bonds maturing in November 2014 worth €132 million. Foreign investors bought securities worth €86 million.

Overall demand in the auction of three-year bonds reached €172.4 million, with non-residents' bids worth €98 million. Investors demanded an average interest rate of 0.6307 percent p.a.

The Finance Ministry's Debt and Liquidity Management Agency (ARDAL) accepted an average rate of 0.6056 percent p.a. Total demand in the second auction reached €231 million, with non-residents' bids in the volume of €176 million. The average demanded interest rate in the auction of 10-year bonds was 2.5820 percent p.a., while the average accepted bid represented 2.5574
percent p.a.

Source: SITA

Compiled by Michaela Terenzani from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings.

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