Business News

Slovenia to Woo Investors in US, UK

Ljubljana, 16 January (STA) - The Slovenian Finance Ministry has commissioned Barclays, Goldman Sachs International and J.P. Morgan to arrange a series of investor meetings in the US and the UK beginning on 21 January.

The roadshows are designed to examine investor interest and "a benchmark RegS/144A USD transaction may follow subject to market conditions," the ministry said Thursday.

The announcement indicates Slovenia could issue dollar bonds, having already issued US$ 6bn-worth in two placements last year.

Slovenia's last debt issue was in mid-November, when it opted for a private placement worth EUR 1.5bn with a 4.7% interest rate.

The government is allowed to borrow up to EUR 7.7bn this year according to a budget financing plan adopted last week.

It can take on fresh debt of up to EUR 3.5bn to finance current expenditure and up to EUR 4.2bn to pre-finance debt principal in 2015 and 2016.

Slovenia had been shut out of eurobond markets due to high yields, but the price of borrowing has fallen significantly since the bank bailout was set in motion in December.

The yield on the ten-year benchmark was 4.61% today, which is roughly 200 basis points below the mid-2013 peak.

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