Slovakia issues longest-term bond in CEE since 2011
Erste Group Bank through its subsidiary Slovenská sporiteľňa successfully managed a 1.5 billion euro 15-year new bond issue for the Slovak government as joint lead manager, Erste Group said in a press release.
Slovakia, rated A2 stable /A stable /A+ stable (Moody’s/S&P/Fitch), acted through the Ministry of Finance and was represented by the Debt and Liquidity Management Agency (ARDAL).
The issue was marketed on January 8 with Initial Price Thoughts (IPT) in the MS + 115 bps area. On the back of a positive market opening the following day and a price guidance further revised to MS + 105-110 bps, the order book quickly closed with total orders in excess of four billion euro and more than 170 investors. The strong and well-diversified demand allowed the Slovak Republic to ultimately set the issue size at 1.5 billion euro and price the issue at the very low end of the revised official price guidance at 105 basis points above the corresponding mid-swap rate.
For the full story, please visit The Prague Post.
(Photo: Miroslav Sárička/sxc.hu)
