Slovenia Again Changes the Dollar Bonds
Bond market. By this measure, the Government reduced the expenditures on external loans maturity.
Last Tuesday, the Ministry of Finance published a new plan for restructuring sovereign debt. The Government continues replacing the bonds denominated in US dollars for the bonds issued in euro amounting to a total of about 1 billion US dollars. The Republic of Slovenia buys these bonds at pre-fixed quotations, as compared to with the US government bonds under the same maturities (quotations fluctuate within 125–155 basis points). To conduct this procedure, the country chose four investment houses: Barclays, Deutsche Bank, JPMorgan and Goldman Sachs. The bonds redemption offer is expected to remain in force until the end of August. The Ministry of Finance also announced the release of new Eurobonds, however, without indicating the par value of the issue. In May of this year, Slovenia replaced 1.25 billion dollars of sovereign debt with the debt in euros, and thus, as estimated by the analytical houses, it can save 39 million euros.