Chicago, Jan. 4 – Slovenia (A3/AA-/A) priced €1.25 billion of 3.625% sustainability notes and tapped its 3.125% notes due 2045 for €250 million on Wednesday, according to a market source.
The sustainability notes priced with a 99.746 discount to yield 3.654%, or at mid-swaps plus 77 basis points. Guidance was in the 90 bps area to mid-swaps.
The tap priced at 88.192 to yield 3.922%, or at mid-swaps plus 137 bps. Guidance was in the 145 bps area over mid-swaps.
BNP Paribas, Citi, Deutsche Bank, Erste Group (billing and delivery), Nova KBM, UniCredit are the joint bookrunners.
The new issue will be used for eligible green or social projects. The tap issue will be used for general funding purposes.
The notes played to strong demand with the new sustainability notes recording an orderbook of over €7.8 billion and the small tap logging €2.9 billion, with both figures including joint lead manager interest.
The notes will be listed locally in Ljubljana.
| Issuer: | Slovenia
|
| Amount: | €1.5 billion
|
| Issue: | Notes
|
| Bookrunners: | BNP Paribas, Citi, Deutsche Bank, Erste Group (billing and delivery), Nova KBM, UniCredit
|
| Trade date: | Jan. 4
|
| Settlement date: | Jan. 11
|
| Distribution: | Regulation S
|
|
|
| Sustainability notes
|
| Amount: | €1.25 billion
|
| Issue: | Sustainability notes
|
| Maturity: | March 11, 2033
|
| Second-party opinion: | Sustainalytics
|
| Coupon: | 3.625%
|
| Price: | 99.746
|
| Yield: | 3.654%
|
| Spread: | Mid-swaps plus 77 bps
|
| Price talk: | Mid-swaps plus 90 bps area
|
| ISIN: | SI0002104303
|
|
|
| Tap issue
|
| Amount: | €250 million
|
| Issue: | Notes
|
| Maturity: | Aug. 7, 2045
|
| Coupon: | 3.125%
|
| Price: | 88.192
|
| Yield: | 3.922%
|
| Spread: | Mid-swaps plus 137 bps
|
| Price talk: | Mid-swaps plus 145 bps area
|
| ISIN: | SI0002103552
|
| Amount outstanding: | €2,061,268,000 with tap
|
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