Slovenia issued a new 10-year benchmark bond to the value of one and half billion euros on Monday as the first EU country to test the market in 2019, according to the national media on Tuesday.

The bond, due on March 14, 2029, has an annual coupon interest rate of 1.1875 percent and was sold at a price of 99.785 percent. The issue was well oversubscribed with bids exceeding 3 billion euros, the Slovenian Press Agency said citing the Finance ministry.

Slovenian investors bought nine percent of the bond, while 41 percent was acquired by investors from the UK and Ireland and 17 percent by German and Austrian investors.

Investors from Benelux countries purchased 12 percent of the bond, those from France eight percent and investors from Scandinavian countries three percent. Investors from Switzerland, Asia and the U.S. bought two percent each.

Banks and treasurers represented 38 percent of the investors, 31 percent were fund managers and 21 percent were venture capital funds. Insurance companies and pension funds acquired seven percent of the bond and central banks and official institutions three percent.

The issue was lead managed by the banks Abanka, Barclays, BNP Paribas, Credit Agricole CIB, Commerzbank and HSBC, which placed orders to the tune of 500 million euros, said the STA report.

The debt financing program adopted by the government in December stipulates that Slovenia will issue fresh bonds worth a maximum of 2.1 billion euros this year.

Last year it issued fresh debt worth 1.5 billion euros and also refinanced dollar-denominated bonds to the tune of 1.25 billion euros, said the national media. (1 euro =1.14 U.S. dollars)