Slovenia blow-out book signals dollar hunger

Slovenia offered a sign of just how much pent up demand is present in the CEEMEA bond market, building an orderbook of over $16bn for its dual tranche deal on Monday. The notes were trading 15bp-20bp tighter on Tuesday morning, despite being priced flat to inside the sovereign’s secondary curve. This left debt bankers on the bond in no doubt that the reception and performance was down to a lack of dollar issuance rather than a juicy spread.