Slovakia slashes pricing on first syndication of the year

20 Feb 2013

The Slovak Republic is set to make a flying start to its 2013 syndications programme. The issuer will price its first benchmark of the year — a 10 year euro — on Wednesday afternoon at a level well inside initial price thoughts.

Deutsche Bank, ING, Société Générale and Slovenská Sporitelna (Erste Group) set pricing at 122bp over mid-swaps on Wednesday morning about two hours after opening books.

This is sharply inside the initial price thoughts of mid-swaps plus high 120s area announced on Tuesday afternoon, and is at the tight ...

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