OVERWHELMING demand for name and credit diversification in the flourishing euro denominated bond sector enabled the Republic of Slovenia to enjoy a blow-out success with its debut transaction in the currency and to set a benchmark pricing low for emerging market credits. As central and eastern Europe's top rated sovereign, A3/A/A- rated Slovenia was able to benefit from a flight to quality in the emerging market debt sector this week. It launched a Eu500m seven year transaction via JP Morgan and Paribas. This featured a 5.375% coupon to yield just 57bp over the 7.5% April 25, 2003 OAT on an issue fixed re-offer price of 99.63.
May 15, 1998
