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Slovakia has announced its gross funding...>

SLOVAKIA
SLOVAKIA: Slovakia has announced its gross funding needs for 2019 at EUR4.3bn. 
This is in line with the MNI exclusive interview of Nov 14 and slightly higher
than the EUR4bn in 2018 (but lower than the original plans for 2018 which were
around EUR5bn).
- There are two new bonds planned for 2019 (subj to mkt conditions) which will
be issued via syndication or auction: EUR1.5-3.0bn in spring or autumn with
short to middle tenor.
- EUR3.0bn in Q2 in the 10-20-year sector of the curve.
- In the Nov 14 MNI exclusive, Daniel Bytcanek director of Ardal, pointed to
possibility of "an 11-year maturity to fill the gap in the redemption profile in
2022 or a longer-term bond, possibly 20-years."
- Syndicated sale is expected to amount to EUR2.0bn.
- There will be one auction per month with the exception of July, Aug and Dec.
Full announcement:
https://www.ardal.sk/_img/Documents/en/Government%20Securities/Plan%20of%20Issue
s/Auction%20calendar%202019.pdf

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