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Record low borrowing rate on bond sale

SLOVAKIA’S Debt and Liquidity Management Agency (ARDAL) sold the 12-year government bonds to more than 30 countries in the January 13 auction. The sale was worth €1.5 billion, while the overall demand reached €5.5 billion. The bond interest yield amounted to 1.375 percent p.a., with the accepted price standing at 99.267 percent. The bonds will mature on January 21, 2027, the TASR newswire reported.

SLOVAKIA’S Debt and Liquidity Management Agency (ARDAL) sold the 12-year government bonds to more than 30 countries in the January 13 auction. The sale was worth €1.5 billion, while the overall demand reached €5.5 billion. The bond interest yield amounted to 1.375 percent p.a., with the accepted price standing at 99.267 percent. The bonds will mature on January 21, 2027, the TASR newswire reported.

“The final pricing also represents a new lowest yield ever achieved by Slovakia for a long-dated Euro bond,” ARDAL wrote in a press release.

According to ARDAL, the transaction also benefitted from a highly granular orderbook with 89 percent of the issue placed outside of Slovakia with international investors from over 30 countries. One-quarter of the emission went to Germany and Austria, with the next highest subscriptions going to the and Benelux countries, as reported by the SITA newswire.

Also Finance Minister Peter Kažimír praised the transaction.

“The successful sale is result of our fiscal discipline and continuing stabilisation of public finances, as well as the current favourable situation in the market,” Kažimír said, as quoted by SITA. He added that thanks to the expansive policy of the European Central Bank, the interest rates are at historic low.

Source: ARDAL website, TASR, SITA

Compiled by Radka Minarechová from press reports

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