The Slovak Finance Ministry rejected all bids in an auction of 19-year, 4.5 percent state bonds on Monday, the Debt and Liquidity Management Agency said. The debt agency, which handles sales of state securities for the ministry, said total demand was 2.11 billion crowns ($86.76 million) in the eighth sale of the bond that matures on May 10 2026.
The minimum yield demanded by investors was 4.720 percent, the average demanded yield stood at 4.864 percent and the maximum requested yield was 5.000 percent. The debt agency did not comment on the result of the auction. It does not set the amount on offer for bond auctions.
The government rejected all bids in the last two auctions of the 19-year paper in July and April. The debt agency has said it had almost fully satisfied state borrowing needs in the first half of 2007 and may not sell much more debt this year.