Czech plans to retail bond issue to help fill out 2013 borrowing
PRAGUE Oct 31 (Reuters) - The Czech Finance Ministry plans to borrow 5 billion to 10 billion crowns ($267.6 million-535.2 million) in a retail bond issue to households in the autumn to help round out its 2013 borrowing, it said on Thursday.
Order books for the second retail bond issue this year will be opened from Nov. 4 to Nov. 29, although the subscription period could be shorter, if demand is high.
In a spring sale, the ministry sold debt to ordinary Czechs worth 17.5 billion crowns.
The ministry has seen high demand for its standard bonds aimed at institutional investors but also uses retail offerings to diversify its funding portfolio.
Gross borrowing needs reached 107.6 billion crowns by Oct. 31 and, for all of 2013, is seen at 120.7 billion, the top of range given by the ministry in July, a presentation of the retail issue showed.
The ministry slashed its 2013 borrowing target by around half in July because of a new system which pools public institutions' funds at the central bank account rather than commercial banks, improving liquidity management for the state. ($1 = 18.6853 Czech crowns) (Reporting by Jana Mlcochova; Editing by Angus MacSwan)
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