The Slovak Finance Ministry’s Debt and Liquidity Management Agency (ARDAL) borrowed more than €500 million on the financial markets on Monday. In two auctions it offered government bonds to investors maturing in 2016 and 2018.
In the first one it borrowed €205.6 million, with almost half the sum coming from foreign investors. In the second auction, the agency offered bonds maturing in November 2018. There was lower investor demand for the longer maturity, but ARDAL ultimately sold more of these bonds. Overall demand reached €431.2 million, of which the agency accepted €300 million. More than half of the bonds went to foreign investors. These two auctions were the first domestic auctions of Slovak government bonds this year. It has already managed a large €1.5 billion syndicated sale of Eurobonds in early January. This year’s total need of debt financing stands at around €6 billion.
