Slovakia set for tight five year print
The Slovak Republic was set to print its second euro benchmark trade of the year on Thursday. Bakers away from the deal said that the ECB repo eligibility of the trade and the continuing investor drive for yield would allow the borrower to print at a tight level.
The sovereign, rated A2/A/A+, set final pricing on the 5.5 year bond at 65bp over swaps for a 1bn sale, having accumulated just under 3bn of orders.
The fact the bond is ECB repo eligible will drive a technical bid for the deal, said a head of emerging markets
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