Slovaks take tight five year print with second euro deal
The Slovak Republic on Thursday priced its second euro benchmark trade of the year. The deal’s eligibility for repo with the ECB and the drive for yield among investors allowed the borrower to print at a tight level when the trade is priced.
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 November 2018 bond was priced with a 1.5% coupon.
"The fact the bond is ECB repo eligible will drive a technical
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