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Slovenia borrowing costs rise after OECD report
April 9, 2013 / 1:13 PM / 5 years ago

Slovenia borrowing costs rise after OECD report

LJUBLJANA (Reuters) - Slovenia raised far less funding than planned and at higher costs at a treasury bill auction on Tuesday after the OECD said the country may have “significantly” misread the cost of fixing its troubled banks.

The ministry sold 56.1 million euros ($73 million) out of the 100 million euros it sought to raise. Bids totaled around 80 million euros.

The yield on six-month bills, last auctioned on March 12, rose to 1.7 percent from 1.5 percent, while the yield on one-year bills rose to 2.99 percent, from 2.02 percent at a February auction.

The next T-bill auction is due on May 15.

Slovenia is trying to avoid becoming the euro zone’s next bailout victim after last month’s messy rescue of Cyprus.

The Organisation of Economic Cooperation and Development criticized Slovenia’s handling of its state-owned banks but said the country was not in immediate need of financial rescue.

($1 = 0.7682 euros)

Reporting by Igor Ilic; Editing by Ruth Pitchford

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