Serbia raises €550mn from 10-year Eurobond issue, to be listed on London Stock Exchange

By bne IntelliNews November 6, 2019

Serbia has raised €550mn from a reopening of a ten-year Eurobond issue, which will be listed on the London Stock Exchange (LSE), the finance ministry said in a statement.

Serbia has been considering to issue a Eurobond in order to raise funds for a planned new large investment cycle.

The securities were added to a €1.0bn Eurobond that was first auctioned in June. On November 5, they were sold at an average yield of 1.25%, down from 1.619% in June.

"After issuing a €1bn Eurobond in June this year when investor interest was also significantly higher than the offer, we decided to once again take advantage of the very favourable conditions on the international market and expand the volume of the issue by an additional €550mn," Finance Minister Sinisa Mali said in the statement.

Demand reached €1.7bn, three times more than the offer.

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