Serbia plans to issue EUR 50mn euro-denominated 2-year T-notes on March 26.

By bne IntelliNews February 28, 2012
Serbia will action a EUR 50mn issue of euro-denominated two-year Treasury notes on March 26, the finance ministry's treasury department said in a statement. The issue will have an annual coupon of 5.75%, the statement said. In case the ministry does not manage to sell out the complete issue, it will be later reopened. This will be Serbia's second euro-denominated debt auction this year. It sold EUR 55.2mn worth of euro-denominated 53-week Treasury notes on February 20, or 46% of the total on offer, at an annual discount rate of 5.95%. Demand totalled EUR 94.5mn versus EUR 120mn on offer as only 19 of the all 26 filed bids were accepted. Previously, Serbia last offered investors euro-denominated securities on July 4, 2011, when it sold 99.83% of a EUR 150mn issue of 18-month T-notes at a discount, yielding 5.4%. Demand in the July 2011 auction totalled EUR 183.8mn.
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