Slovenia
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Telekom Slovenia, a firm downgraded four times in the last five years, has secured a €300m loan to refinance a bond, the move will strengthen its Ba2 rating according to Moody’s. -
Holding Slovenske elektrarne (HSE), the largest power generation firm in Slovenia, has pulled its bond — a sign that European high yield is still cautious, despite increased bond sales in March.
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The Republic of Slovenia printed a €1.5bn 16 year bond on Thursday from a book of €1.75bn and achieved its aim of building out the longer part of its curve.
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Slovenia has firmed price guidance for a euro 16 year benchmark to 147bp over mid-swaps, a level that syndicate officials away from the deal said represents a double digit new issue premium.
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Central and eastern European borrowers gathered in Vienna this week for Euromoney’s Central & Eastern Europe Conference and are not short of plans for the capital markets this year.
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Slovenia is considering a buyback of its dollar bonds in order to reduce its exposure in the currency.
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The Republic of Slovenia on Thursday ripped into the private placement market for the first time, fulfilling a desire at the ultra long end.
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Slovenia’s development bank, SID Banka, increased priced its first deal in five years on Tuesday, raising the deal size from a planned €250m.
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Slovenia’s development bank, SID Banka, opened books on a €250m three year deal on Tuesday morning.
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Slovenia gave CEEMEA the privilege of producing the first post-Greek agreement Eurozone sovereign deal this week. Pricing with only a single digit new issue premium and a pack of investment grade accounts in the book proved the sovereign is increasingly leaving its EM roots behind. But the success will still raise hopes among CEEMEA governments looking for duration.
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Slovenia priced a €1.25bn 10 year transaction on Tuesday with only a single digit new issue premium, according to bookrunners. The thirst for duration should help encourage other European sovereigns.
