Investor Presentaiton
Debt Management in 2022 (cont'd)
Total redemptions EUR 1.3 billion equivalent
EUR 1.16 billion equivalent bond matured in May 2022 (USD 1.5 billion)
EUR 0.14 billion equivalent bond matured in April 2022 (CHF 0.175 billion)
Bond auctions stable on third Monday of each month except July, August & December
Four bonds offered in all auctions
Special auction of 2068 bond with remuneration in June - followed investor demand
2ARDAL
2003 Agentúra pre riadenie dlhu a likvidity.
2023 Debt and Liquidity Management Agency
Financing still relatively cheap and manageable
Weighted average yield at 2.43% p.a. (new issuance); weighted average maturity 12.1 years (new issuance)
✓ Average yield of outstanding bond portfolio as of December 2022 at 1.66% p.a. (1.31% p.a. including State treasury funds)
Strong presence of ECB
ECB holds more than 40% of issued government bonds
Continuing reinvestments – announced decrease in reinvestments but no binding timeline for any of the two programs
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Source: Ardal as of December 2022View entire presentation