Slovenia places 60-year €500mn Eurobond

By bne IntelliNews January 27, 2021

Slovenia successfully placed a new 60-year Eurobond issue worth €500mn with a coupon rate of 0.6875% on January 27, the finance ministry said.

The new Eurobond will have the longest tenor of any listed in the Central, Southeast and Eastern Europe region, though Poland and Slovenia have issued 50-year Eurobonds in the past.

A day earlier BNP Paribas, Deutsche Bank, Goldman Sachs Bank Europe SE and HSBC were engaged to organise the issuance of the new Eurobond

“Due to the positive response of investors, Slovenia opened the order books on January 27,” the finance ministry said, adding that despite the recent global turmoil, market conditions were relatively favorable.

When the order book for the new Eurobond closed, it contained over €4.3bn in orders placed by over 150 high-quality investors.  

The largest share of investors, 34%, came from Germany and Austria, followed by France (15%), the UK and Ireland (15%) and America (14%).

In terms of institutional distribution, 67% were find managers, insurers and pension funds, while 13% were banks.

Slovenia is rated A3/stable by Moody’s and AA-/stable by S&P and A/stable by Fitch.

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