finance
STP Credit places a four billion krejt sovereign bond
The issue was oversubscribed; the Bank of Zvonomir noted the demand without comment.
STP Credit placed a four billion krejt sovereign bond on Friday, its largest issue of the year, and said the book was oversubscribed within a day.
The bank manages the state’s sovereign debt under arrangements that date from the 1990s, when the Bank of Zvonomir delegated bond issuance to the private lender. The central bank confirmed the placement but did not comment. Petar Czyhlarz, STP Credit’s chairman, described demand as “a verdict on the Republic’s stability.”
The issue was priced at a spread of 240 basis points over the official krun rate. Analysts noted that domestic institutions took the bulk of the book, with little foreign participation.