Slovakia sells bonds worth €659 million

Debt and Liquidity Management Agency (ARDAL) sold government bonds worth a total of €659 million in three auctions on Monday. The Finance Ministry's statement on the results of the auctions said that government bonds met with high demand from investors who bought more than half of the bonds sold. Bonds with three different terms of maturity were offered for the first time. The shortest one had a maturity of 2.5 years, the next one 8.5 years and the final one almost 13 years. Excellent results were achieved in the auction, not only in terms of the total value of bonds sold, but also in terms of the yields. The best-ever yield of minus 0.125 percent P.A. was achieved for the bond with the shortest maturity period. "This means that investors are still willing to pay for what we borrow from them or, in other words, we'll have to repay less than we borrowed," read the statement.