News

Announcement of the Republic of Slovenia Cash Tender Offer on EUR denominated Notes

According to preliminary data, the state budget recorded approximately EUR 12.3 billion in revenue in 2022, an increase of just under EUR 1.2 billion, or 10.5%, compared to 2021. Expenditure reached around EUR 13.7 billion, down by EUR 544 million or 3.8% compared to the previous year, while the state budget deficit was just under EUR 1.4 billion.

On Wednesday, 4th January 2023, the Republic of Slovenia, rated A3 (stable) /AA- (stable) /A (stable), successfully entered the markets with a EUR 1.25bn 10-year Reg S Sustainable bond alongside a EUR 250mm tap of the outstanding 3.125 percent bonds due 7 August 2045. This landmark transaction, which included the second and largest Sustainable bond out by Slovenia, makes the Republic of Slovenia the first Sovereign in the region to enter the markets in 2023.

The Republic of Slovenia (the Issuer), rated A3 (stable) / AA- (stable) / A (stable), has mandated BNP Paribas, Citi, Deutsche Bank, Erste Group, Nova KBM and UniCredit as Joint Lead Managers to arrange a Global Investor Call and a series of investor meetings to present the Issuer’s updated Sustainability Bond Framework. BNP Paribas acted as sole sustainability structuring advisor.

Rating agencies S&P and DBRS Morningstar confirmed Slovenia’s credit rating yesterday. S&P confirmed the AA- rating with a stable outlook, while DBRS Morningstar confirmed the A (high) rating, again with a stable outlook. Considering that in recent months rating agencies have downgraded the outlooks for some European countries, the confirmation of the outlook and ratings for Slovenia is proof that it is a solid and trustworthy country.

Speaking at the press conference after the conclusion of the annual IMF Mission to Slovenia’s consultations, Minister Klemen Boštjančič expressed his agreement with its findings.

Yesterday, Fitch affirmed Slovenia's credit rating at A with a stable outlook.

According to preliminary data, the state budget recorded approximately EUR 10.3 billion in revenue in the first ten months of the year, which is EUR 1.3 billion or 14.2% more than in the same period last year. Expenditure decreased by EUR 779 million or 7.3% year-on-year to approximately EUR 10.6 billion, with the budget recording a total deficit of approximately EUR 283 million in the first ten months.

During his visit to Japan from 26 to 31 October 2022, Minister of Finance Klemen Boštjančič met with Secretary of State Takahiro Inoue, with whom he discussed further cooperation between the two countries on the 30th anniversary of diplomatic relations between Slovenia and Japan.

Due to distorted price fluctuations in energy markets, the Ministry of Finance advocates for decisive action and all the enforceable measures in the field of financial markets by means of which regulated trading would be ensured in the event of stressful conditions in the market. On this note, we commend the fact that our ideas are also reflected in the proposals of the European Commission.

We hereby publish the Slovenian Government’s response to a public letter from NGOs concerning the resolution of the housing issue.

The ratings agency Moody's confirmed Slovenia’s credit rating as A3 and maintained its outlook at stable on Friday, 21 October 2022.

One year after the confirmation of Slovenia’s Recovery and Resilience Plan, the Representation of the European Commission in Slovenia, the Slovenian Recovery and Resilience Office, and the Ministry of Infrastructure together with the Slovenian Infrastructure Agency, held the plan’s first annual event, entitled On the Road to a Green Transition. In the morning, the conference participants discussed sustainable mobility and effective energy use, while in the afternoon they had a look at the first results of the project to upgrade the Ljubljana-Divača railway line, which is being financed as part of the plan. The event was also attended by the Head of the Recovery and Resilience Task Force at the European Commission, Céline Gauer, the Finance Minister Klemen Boštjančič, and Minister of Infrastructure Bojan Kumer.

As announced yesterday by the Minister of Finance, Klemen Boštjančič, at the press conference following the session of the Government, the Office of the Republic of Slovenia for Recovery and Resilience, a body within the Ministry of Finance, today forwarded to the European Commission a request for the payment of the first instalment of grants from the European Resilience and Recovery Facility.

Before filing its first request for the payment of Recovery and Resilience Facility grants, the Government was briefed on the report on the implementation of the Recovery and Resilience Plan.

Klemen Boštjančič, the finance minister, has attended the annual meeting of the IMF and World Bank Group, which took place from 11 to 15 October 2022 in Washington. The primary focus of the discussions was on developments in the global economy and on the international financial markets, the consequences of the war in Ukraine, the food and energy crisis, and possible responses.

According to preliminary data, the state budget recorded almost EUR 9.3 billion in revenue in the first nine months, which is about EUR 1.3 billion or 16.2% higher than in the same period last year. Expenditure fell by almost EUR 837 million or 8%, amounting to around EUR 9.6 billion. Accordingly, the budget deficit amounted to EUR 324 million in the first nine months.

On the 20th of September 2022, the Republic of Slovenia, rated A3 (stable)/A (stable)/AA- (stable) reopened its 2.250% March 2032 (Mar-32) by €500mn. The new issue size totalled €3.83bn after reopening.

The Republic of Slovenia announces the cash tender results of the Euro denominated notes of the tender that expired on 19 September 2022.

The Republic of Slovenia, rated A3 (stable) / AA-(stable) / A (stable), has mandated Barclays, BNP Paribas, Erste Group and J.P. Morgan to lead manage a reopening of the SLOREP benchmark due in March 2032. A potential tap of SLOREP 02/2062 and/or SLOREP 03/2081 is possible, subject to the interest of investors. The transaction will be Regulation S in dematerialized registered form.