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LJUBLJANA (Slovenia), January 8 (SeeNews) – Slovenia's finance ministry said it has issued a new 1.5 billion euro ($1.7 billion) 10-year government bond to refinance the bond maturing on January 27 and reduce interest expenditures, as the offer was oversubscribed.
“The bond carries a coupon of 0.275%, which is by 3.85 percentage points lower than the coupon rate of the maturing bond,” the finance ministry said in a statement late on Tuesday.
Investor interest was strong, with the order book exceeding 11 billion euro at the time of closing, the finance ministry said.
The bonds were sold at a price of 99.793%.
Barclays, BNP Paribas, Goldman Sachs International Bank, HSBC, JP Morgan and UniCredit Banka Slovenija acted at joint lead managers of the issue.
Nearly a third of investors (28%), came from the UK and Ireland, followed by Germany and Austria with 14% and Slovenia with 13%.
In terms of institutional distribution, fund managers bought 52% of the bond issue, followed by pension funds/insurers with 18% and banks/treasuries with 14%.
By placing the bond Slovenia's government has fulfilled almost entirely its budget financing quota for 2020 set at 1.58 billion euro, the finance ministry said.