17.06.2013

The Ministry of Finance reopened for a fifth time this year the 7-year euro denominated government securities (GS) issue with maturity 16 January 2020. The yield achieved at the auction held on 17 June is 2.82%. The GS offered for sale were EUR 20 million while the subscription was for EUR 33.97 million, coverage coefficient 1.7. Banks acquired 82.90% of the amount offered, pension funds - 13.60%, and insurance companies and other investors - 1.75% each.

The yield achieved on 17 June 2013 is considerably lower than that of sovereign bonds with similar characteristics of a number of EU Member States: Slovenia - 6.11%, Portugal - 6.00%, Croatia - 5.05%, Hungary - 4.60%, Spain - 3.91%, Italy - 3.67%, Ireland - 3.44%, etc.

After the fifth reopening the issue totals EUR 100 million.