By Rebecca Melvin
New York, March 24 – Slovenia priced a €1.1 billion, dual-tranche offering of notes on Tuesday, including €850 million of new three-year notes and a €250 million tap of its 1.1875% notes due March 14, 2029, according to a syndicate source.
The 0.2% notes due 2023 priced at 99.842 to yield 0.253%, or a yield spread of mid-swaps plus 50 basis points. The notes were initially talked at mid-swaps plus 50 bps area.
The €250 million tap of 1.1875% notes due 2029 priced at 104.262 to yield 0.695%, or a yield spread of mid-swaps plus 65 bps. The deal was talked at a yield in the mid-swaps plus 65 bps area.
The order books for the two issues stood in excess of €1.73 billion at the time of launch, with orders in excess of €1.35 billion for the 2023 notes at that time.
Barclays, BNP Paribas, Commerzbank, Credit Agricole CIB, Goldman Sachs International Bank and HSBC were bookrunners for the Regulation S transactions.
Listing on the Ljubljana Stock Exchange is expected.
| Issuer: | Slovenia
|
| Issue: | Notes
|
| Amount: | €1.1 billion
|
| Bookrunners: | Barclays, BNP Paribas, Commerzbank, Credit Agricole CIB, Goldman Sachs International Bank and HSBC
|
| Trade date: | March 24
|
| Settlement date: | March 31
|
| Distribution: | Regulation S
|
|
|
| Notes due 2023
|
| Amount: | €850 million
|
| Maturity: | March 31, 2023
|
| Coupon: | 0.2%
|
| Price: | 99.842
|
| Yield: | 0.253%
|
| Spread: | Mid-swaps plus 50 bps
|
| Talk: | Mid-swaps plus 50 bps area
|
|
|
| Tap of notes due 2029
|
| Amount: | €250 million
|
| Maturity: | March 14, 2029
|
| Coupon: | 1.1875%
|
| Price: | 104.262
|
| Yield: | 0.695%
|
| Spread: | Mid-swaps plus 65 bps
|
| Talk: | Mid-swaps plus 50 bps area
|
| Total size: | €2.1 billion
|
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