Serbia sells 10-year Eurobond worth $1.2bn amid strong investor interest

By bne IntelliNews November 24, 2020

Serbia’s government said on November 24 it has issued a ten-year Eurobond worth $1.2bn on the international market amidst strong investor interest.

The bond was issued on November 23 following a seven-year pause and will be used for the early repayment of a significant portion of an outstanding debt on a US dollar Eurobond issued in 2011 at a yield rate of 7.50%.

The issue caries a coupon of 2.125% and yield of 2.35%. It also has a final interest rate, the government said in a statement.

The demand was above $6bn placed by more than 200 funds, insurance companies and banks, mainly from the U.S. and the UK.

Serbia also carried out its first-ever hedging via swap operations, swapping liabilities under the Eurobond from the U.S. dollar to the euro, thus achieving a de facto 1.066% coupon rate for financing in euro.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Fitch expects Ukraine to receive only one disbursement from IMF, issue more Eurobonds in 2021

International ratings agency Fitch says that it expects Ukraine to receive only one disbursement of $700mn this year under its $5bn ... more

Istanbul listed Sabanci Holding reports 2020 profit of 5bn lira

Istanbul-listed Sabanci Holding (SAHOL), the second largest conglomerate in Turkey behind Koc Holding (KCHOL), produced a 2020 profit of Turkish lira (TRY) 4.77bn, almost exactly a billion lira up ... more

Albania’s parliament votes to ratify €80mn KfW loan for municipal infrastructure

Albania’s parliament voted to ratify an €80mn loan agreement between the Albanian state and German development agency KfW at a session on February 22. The draft law was approved with 95 votes in ... more

Most Read

  1. Lufthansa to launch a first class "Corona Lounge" in Moscow to immunise rich Germans
    8 days ago
  2. Romania to ban Chinese companies from big infrastructure projects
    1 day ago
  3. Belarus' Tikhanovskaya calls for mass protests to restart on March 25
    5 days ago
  4. Sanctions risk on Russia is over-priced
    3 days ago
  5. OBITUARY: World’s longest-serving city mayor Milan Bandic dies of heart attack
    4 days ago
  1. Lufthansa to launch a first class "Corona Lounge" in Moscow to immunise rich Germans
    8 days ago
  2. Serbia to become vaccine production hub for the Western Balkans
    16 days ago
  3. Romania to ban Chinese companies from big infrastructure projects
    1 day ago
  4. MOSCOW BLOG: Kremlin lays out new rules of the game for post-Trump relations
    27 days ago
  5. Slovak government under fire as COVID-19 death rate surges to worst in the world
    15 days ago

Reports

Dismiss