LJUBLJANA, Oct 20: Slovenia raised $2.25 billion in 10-year bonds on Friday, with a 5.7 per cent rate of return and amid massive demand, the eurozone country’s finance ministry said.

Demand far exceeded supply at the auction, with bids for bonds maturing in 2022 topping $11 billion.

“(This) is this year’s highest demand for dollar-bonds from the central and eastern Europe region,” the ministry rejoiced in a statement. Earlier this week, Slovenia launched an investor road show in the US in an effort to sell $1.5 billion worth of bonds, to ensure the financing of the country’s budget and debt in the following months and avoid a bailout.

“The success of the transaction confirms that the government’s reform programme is correct and that we continue to have access to international capital markets,” the finance ministry said on Friday.

In August, the main international ratings agencies cut Slovenia’s rating, citing the poor state of its banking sector, slow moves to recapitalise lenders and the political situation. The downgrade pushed benchmark government bond yields above 7.0 per cent, a level seen as unsustainable in the long term. —AFP

More From This Section

Flour crisis looming as millers go on strike

Flour mills in Karachi went on a strike on Tuesday for an indefinite period over harassment.

Over 7pc growth in export of textile, clothing

The increase was due to the hike in export of raw cotton and low value-added products.

Major firms announce results

KARACHI: Several widely followed companies announced their results on Tuesday. For the first quarter of this year...

Corrective measures stabilise rupee: ADB

The monitor says that financial support by IMF, US govt and SBP's corrective measures have helped stabilise the rupee.

Comments are closed.
Explore: Indian elections 2014
Explore: Indian elections 2014
How much do you know about Indian Elections?
How much do you know about Indian Elections?
Front Page