Investor Presentaiton
Public Debt Management Strategy
Cornerstones in Public Debt Management Strategy 2016-20
Target
Smoothening of debt maturity
profile and increase of
marketable debt maturity
Maintaining liquid funds for at
least the next 9-month period
Risk mitigation via reduced
exposure to foreign currency and
interest rate risks
Building of international bond
yield curve
Progress
On course: Average maturity
of marketable and total debt
extended
On course
On
course:
new issuance
completed in EUR, fixed rate
format only
On course: at least one
benchmark issuance per
annum achieved; Yield curve
extended up to 30-year tenor
• Strategically, the international bonds will continue to
be the main financing instrument to achieve the
medium-term objectives such as the extension of
international bond yield curve and increase in debt
maturity. The domestic market will continue to serve
as a complimentary financing source.
⚫ The current Debt Management Strategy covers the
period 2016-2020 focusing on longer-term, fixed-rate,
euro denominated issuances to assume low new risk
into portfolio. Progress to date is evident in all targets.
• Issuance of at least one benchmark bond per year and
liability management transactions have contributed to
the attainment of strategic targets.
On
course:
higher
Enhancement
relations and
of investor
expansion
of
investor base
diversification and larger
orderbooks recorded in
primary issuances
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