LJUBLJANA (Slovenia), March 25 (SeeNews) - Slovenia has sold a new 850 million euro ($919 million) issue of three-year government debt and has placed a further 250 million euro as an increase of its outstanding 1.1875% notes due on March 14, 2029, the finance ministry said.
The transaction was carried out at 15:23 CET on Tuesday at a re-offer price of 99.842% for the 3-year notes and 104.262% for the March 2029 tap, the ministry said in a statement late on Tuesday.
This represents a re-offer yield of 0.253% and 0.695%, respectively, it added.
"Given the temporary relief in the markets and the COVID-19 backdrop, Slovenia announced initial price guidance at 10:06 CET, at MS+50bps and MS+65bps for the 3yr (Mar-23) and the Mar-29 tap, respectively. Momentum continued into the morning and by 11:41 CET a book update was released in excess of EUR1.75bn," the ministry said.
It added that by 14:02 CET, when the transaction was launched and the size of the issues were set at 850 million euro for the 3-year benchmark and at 250 million euro for the Mar-29 tap, books were in excess of 1.35 billion euro and 380 million euro, respectively.
The lead managers of the issue were Barclays, BNP Paribas (B&D), Commerzbank, Credit Agricole CIB, Goldman Sachs International Bank and HSBC.
Most of the buyers of the three-year benchmark came from France (32%), Slovenia (13%), Germany and Austria (12%), and Benelux (10%), while the rest of Europe and Asia accounted for 9% each.
In terms of institutional distribution, 51% of the investors were banks/treasuries, 28% fund managers, 13% official institutions, 7% hedge funds and 1% pension/insurance firms.
The statistics for the March 2029 tap are similar.