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.

Related Articles

North Macedonia’s government adopts 2020 budget, plans lower deficit of 2.3% of GDP

North Macedonia’s government has endorsed the state budget for 2020, projecting growth of 3.8% driven by domestic consumption and a budget deficit of 2.3% of GDP. The 2020 budget deficit of a ... more

Turks spurning offer of cheap borrowing threaten Erdogan’s dream of big economic recovery says analysis

Many Turks are spurning the offer of cheap borrowing brought about by President Recep Tayyip Erdogan forcing down interest rates, thus threatening plans for a big economic rebound pursued by the ... more

Turkey’s sovereign wealth fund ‘wants to buy EBRD’s Borsa Istanbul stake', Halkbank and Syria sanctions rows continue

Turkey’s sovereign wealth fund (TVF) wants to buy the European Bank for Reconstruction and Development’s (EBRD’s) 10% stake in the Istanbul stock exchange, broadcaster CNN Turk reported TVF ... more

Dismiss