Slovakia: bonds

The bond market in Slovakia includes government securities (government bonds and T-bills), corporate bonds, bank bonds and municipal bonds.

Bonds were first issued in 1990 and issuance has increased steadily ever since. Trading volumes in the secondary market, where all deals are traded on the Bratislava Stock Exchange, have also increased. Until 31 December 2005, the supervision of the financial market in the Slovak Republic was undertaken by two supervisory bodies - the Financial Market Authority (FMA) and the National Bank of Slovakia - while the Ministry of Finance retained regulatory powers. In 2006 the FMA was dissolved and its powers transferred to the National Bank of Slovakia, which cooperates with the Ministry of Finance for the enactment of capital market regulations.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
EUR 18 34 977 520 000
CHF 4 1 075 000 000
NOK 2 3 400 000 000
USD 1 1 500 000 000
JPY 1 4 200 000 000
corporate
EUR 160 8 289 451 770
CZK 5 5 651 000 000
SKK 1 1 000 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
RIA Rating *** Sovereign ratings ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Slovakia, 1.875% 9mar2037, EUR - International bonds SK4120012691 1.875% 2 397 300 000  EUR 06/19/2017 03/09/2037
Slovakia, 1.375% 21jan2027, EUR - International bonds SK4120010430 1.375% 2 708 900 000  EUR 05/15/2017 01/21/2027
Slovenska Sporitelna, 0.6% 28apr2018, EUR - Domestic bonds SK4120012816 0.6% 5 000 000  EUR 04/28/2017 04/28/2018
Vseobecna uverova banka, 1.050% 26apr2027, EUR - Domestic bonds SK4120012824 1.05% 250 000  EUR 04/27/2017 04/26/2027
Tatra Banka, FRN 19aug2020, EUR - Domestic bonds SK4120011016 6M EURIBOR + 0.50 % p.a 289 000 000  EUR 04/05/2017 08/19/2020
Slovenska Sporitelna, 0.6% 30mar2018, EUR - Domestic bonds SK4120012675 0.6% 5 000 000  EUR 03/30/2017 03/30/2018
HB Reavis Finance SK, 3.5% 21mar2022, EUR - Domestic bonds SK4120012634 3.5% 15 000 000  EUR 03/21/2017 03/21/2022
EPH Financing SK, 3.5% 28aug2020, EUR - Domestic bonds SK4120012600 3.5% 75 000 000  EUR 02/28/2017 08/28/2020
Ebro, 0% 24feb2022, EUR (1826D) - Domestic bonds SK4120012568 0% 30 000 000  EUR 02/24/2017 02/24/2022
Tazab, 6.25% 25jan2020, EUR - Domestic bonds SK4120012337 6.25% 30 000 000  EUR 01/25/2017 01/25/2020

World Bond Market Indicators

Monthly indices

Type May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016
EU Long-term interest rates
Slovakia, % 1.03 1.06 1.09 1.09 1.03 1.01 0.72
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World Bond market statistics

Monthly indices

Type May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016
Domestic government bond market (Eastern Europe)
Slovakian govt Bonds outst., EUR bln (without Bills) 31.08 30.93 31.94 31.84 31.43 33.52 33.46
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Quarterly indices

Type I 2017 IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015
BIS volume of international-bond market of emerging countries
Slovak international bonds, USD bln 13.500 13.300 13.900 13.800 14.300 15.200 15.500
BIS net issues of international-bond market of emerging countries
International-bond net issue of Slovakia, USD bln       0.200 -1.400 0.000 0.000

Emerging Markets International Bonds

Monthly indices

Type May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016
Eastern Europe International Bonds Markets
International bonds of Slovakia, USD bln 13.537 14.068 13.832 11.422 11.606 11.343 11.403
Sovereign international bonds of Slovakia, USD bln 9.466 10.122 9.968 7.583 7.693 7.527 7.564
Corporate international bonds of Slovakia, USD bln 4.071 3.945 3.864 3.839 3.912 3.816 3.839
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Credit Risk Indicators

Daily indices

Type: 01/06/2016 01/05/2016 01/04/2016 12/31/2015 12/30/2015 12/29/2015 12/28/2015
CDS Emerging markets (sov.) 
CDS 5Y Slovakia mid * * * * * * *
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Macroeconomic Indicators (World economy)

Monthly indices

Type May 2017 Apr 2017 Mar 2017 Feb 2017 Jan 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Slovakia) 1.10 0.80 1.00 1.20 0.70
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Yearly indices

Type 2016 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Slovakia) 51.90 52.90 53.90

JP Morgan

Daily indices

Type: 08/20/2013 08/19/2013 08/16/2013 08/15/2013 08/14/2013 08/13/2013 08/12/2013
ELMI (publication was suspended since 20.08.2013) 
ELMI Slovak Republic * * * * * * *
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Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Slovakia, 1.375% 16oct2019, CHF   CHF 10/16/2019 05/18/2016 ***.* -*.** 05/18/2016 ***.* -*.**
Slovakia, 1.375% 21jan2027, EUR   EUR 01/21/2027 05/18/2016 ***.** *.** 05/18/2016 ***.** *.*
Slovakia, 2.125% 16oct2023, CHF   CHF 10/16/2023 05/18/2016 ***.** -* 05/18/2016 ***.* -*.**
Slovakia, 2.125% 25apr2018, CHF   CHF 04/25/2018 05/18/2016 ***.** -*.** 05/18/2016 ***.* -*.**
Slovakia, 2.750% 25apr2022, CHF   CHF 04/25/2022 05/18/2016 ***.* -*.** 05/18/2016 ***.* -*.**
Slovakia, 4.0% 26mar2021, EUR   EUR 03/26/2021 05/18/2016 ***.** -*.** 05/18/2016 ***.*** -*.**
Slovakia, 4.375% 15may2017, EUR   EUR 05/15/2017 05/18/2016 ***.*** -*.** 05/18/2016 ***.* -*.**
Slovakia, 4.375% 21may2022, USD   USD 05/21/2022 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
Eustream, 3.75% 18jul2020, EUR   EUR 07/18/2020 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
Granvia A.S., 4.781% 30sep2039, EUR   EUR 09/30/2039 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
SPP Distribucia, 2.625% 23jun2021, EUR   EUR 06/23/2021 05/18/2016 ***.** *.** 05/18/2016 ***.*** *.**
SPP Infrastructure, 2.625% 12feb2025, EUR   EUR 02/12/2025 05/18/2016 **.* *.** 05/18/2016 **.** *.*
Zapadoslovenska Energetika, 2.875% 14oct2018, EUR   EUR 10/14/2018 05/18/2016 ***.** *.** 05/18/2016 ***.* *.**
Zapadoslovenska Energetika, 4% 14oct2023, EUR   EUR 10/14/2023 05/18/2016 ***.** *.* 05/18/2016 ***.** *.**
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