Slovakia sold 3.150 billion crowns ($99.8 million) worth of 4-year, floating-rate state bonds in a strongly-bid auction on Monday, data from the finance ministry's Debt and Liquidity Management Agency showed. Total demand in the eighth sale of the paper reached 10.805 billion crowns. "Demand was strong, which is not surprising given the current shortage of investment instruments on the market," said ING Bank trader Martin Koska.
The bond's coupon is tied to 12-month Bratislava Interbank Offered Rate (BRIBOR). The coupon is currently fixed at 3.35 percent.
The bond's face value is 100,000 crowns. The average price at Monday's auction totalled 100,626 crowns, and dealers said the price seemed favourable for the finance ministry.
The minimum accepted price was 100,576 crowns, while the maximum price stood at 100,700 crowns.
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