Slovenian SID Bank’s €350mn “coronabonds” issue oversubscribed

By bne IntelliNews July 2, 2020

Slovenia’s SID Bank successfully issued COVID-19 bonds worth €350mn on international capital markets, the bank announced on July 2. 

The state-owned bank will use the funds raised to help the Slovenian economy to alleviate the consequences of the crisis related to the coronavirus (COVID-19) pandemic.

According to the bank, the funds will make it easier for companies to overcome temporary liquidity problems, as well as speed up technological and sustainable transformations, which will enable the restoration of economic growth and the provision of quality jobs.

According to SID Bank, demand for the bonds exceeded expectations and amounted to a total of more than €700mn. This enabled SID Bank to achieve a very favourable yield of 0.14% on the 5-year bonds.

SID Bank is a promotional development and export bank that is 100% state-owned. Its objective is to promote sustainable development and improve the competitiveness of the Slovenian economy.

Related Articles

Erdogan ‘shuns Uyghurs as China provides support to ease Turkey’s economic crisis’

The reality of Turkey’s crisis-stricken economy and the financial support China provides to ease its bite have caused Turkish President Recep Tayyip Erdogan to in recent times make no more than ... more

Veteran trader shorts Eurozone debt on expectation European banks will soon be hit by Turkey’s market ructions

The head of macro strategies at Record Currency Management, which oversees $63bn in assets, is reportedly shorting government bonds of Spain, France and Italy—as well as the euro itself—on the ... more

Hopes rise for release of British dual nationals jailed in Iran as UK defence secretary acknowledges “Chieftain” debt

The UK defence secretary, Ben Wallace, has for the first time stated that he is actively seeking to pay a debt owed to Iran for the non-delivery of Chieftain tanks ordered by the last Shah of Iran ... more

Dismiss