BRATISLAVA, September 5, (WEBNOVINY) — Slovakia borrowed over EUR 250 million on the financial market on Monday. According to data released by the Finance Ministry’s Debt and Liquidity Management Agency (ARDAL), the state sold bonds maturing in 2013 worth a total of EUR 250.8 million, while foreign investors bought bonds in the volume of EUR 16 million. Overall demand in the auction reached EUR 314.7 million.
The demanded average price was 98.9776 percent. The maximum price reached 99.2000 percent and minimum 98.7000 percent. In the end, the state sold bonds at an average price of 99.0220 percent, while the limit price represented 98.8860 percent.
This year, Slovakia has sold securities for nearly EUR 2.06 billion in fourteen government bond auctions. Moreover, EUR 200 million was issued into the portfolio of the Finance Ministry. In addition to this, ARDAL has sold government bonds from the series No. 213 and 214 in a syndicated auction in the total value EUR 2.25 billion. About a half of Slovakia’s debt so far of EUR 2 billion, has been refinanced by foreign investors this year.
Last year, ARDAL raised EUR 7.094 billion in bond sales to cover the state debt and to provide liquidity. This represented a significant increase from the EUR 4.208 billion obtained in 2009. The increase was caused by a higher need to refinance the state budget deficit. Last year’s issues also included EUR 3.5 billion syndicated sale of two issues of benchmark bonds from April and October. The agency sold T-bills worth EUR 2.421 billion last year, too, up from EUR 1.259 billion a year ago.
SITA
