January 4, 2018 / 8:12 PM / 2 months ago

Slovenia 10-year benchmark bond oversubscribed

LJUBLJANA, Jan 4 (Reuters) - Slovenia sold 1.5 billion euros ($1.81 billion) in a heavily over-subscribed 10-year benchmark bond on Thursday, the Finance Ministry said in a statement.

The bond was sold at a price of 99.654 percent and carries an annual coupon interest rate of one percent.

“Orders from 155 investors reached 3.2 billion euros without including the interest of the lead organisers of the issue,” the ministry said.

Lead managers of the issue were Citi, Commerzbank, Goldman Sachs International Bank, HSBC, Jefferies and Slovenian Nova Ljubljanska Banka.

The ministry said fund managers purchased 57 percent of the issue, followed by 18 percent that went to central banks and other official institutions, while banks purchased 13 percent of the issue. Insurers and pension funds bought 12 percent of the bond.

Investors from Germany and Austria together bought 35 percent of the issue, followed by those from the United Kingdom and Ireland with 17 percent, the ministry said.

Last month the ministry said Slovenia will this year borrow between 2.2 billion and 6.3 billion euros in order to finance its budget needs and prefinance debt that will mature in 2019 and 2020. ($1 = 0.8288 euros) (Reporting By Marja Novak Editing by Jeremy Gaunt)

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