Smart Slovenia wins praise for clever bond exchange
Slovenia tapped two euro bonds for €700m this week to exchange investors out of some of its dollar debt, in a move that bankers said shows the issuer is one of Europe’s most astute borrowers.
The Baa1/A+/A- rated EU member state tapped its €2.8bn 2027s for €200m at mid-swaps plus 20bp and its €2.5bn 2040s for €500m at mid-swaps plus 55bp.
The deal was part of an exchange, in which holders of a combined $523.4m of dollar bonds swapped them for euro notes.
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