Slovak Republic tightens pricing on offering of 10-, 50-year notes

By Rebecca Melvin

New York, June 5 – The Slovak Republic has tightened pricing on its dual-tranche offering of 10- and 50-year notes, with final terms set at mid-swaps plus 10 basis points on the shorter-dated securities and mid-swaps plus 80 bps for the long notes, according to a syndicate source on Tuesday.

The 10-year notes were guided from mid-swaps plus 15 bps and from initial price talk in the 20 bps area, while the 50-year notes were guided to the mid-swaps plus 90 bps area from initial talk of 90 bps to 95 bps.

The order book stood at €3.6 billion for the 10-year notes and at €1.7 billion for the 50-year notes at the time final terms were set.

The deal was initially expected as a single tranche of 10-year notes, but investors were also queried during marketing regarding a potential 50-year issue.

Barclays, Citigroup, Erste Group and Raiffeisen Bank International Group are joint lead managers and joint bookrunners of the Regulation S deal.

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