Business News

Slovenia to Seek Fresh Borrowing

Ljubljana, 18 March (STA) - The Finance Ministry indicated on Tuesday it would seek fresh borrowing on the euro market, an announcement that comes just five weeks after the treasury borrowed US$3.5bn through a two-part US dollar bond issue.

The treasury has mandated Barclays, Commerzbank, HSBC, SG CIB and UniCredit to arrange a series of investor meetings in Europe starting next week.

A euro-denominated benchmark transaction may follow subject to market conditions, according to a press release from the ministry.

The news comes amidst declining yields on Slovenian benchmark bonds, which have been hovering below 4% since the beginning of March following a steep decline in the aftermath of the mid-December bank bailout.

Under the budgeting plan for this year, the government may borrow up to EUR 7.74bn this year to finance current spending and pre-finance principal payments due in 2015 and 2016.

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