Serbia's finance ministry sold EUR 99mn worth of 18-month euro-denominated Treasury notes on June 25, or 99.11% of the total on offer. The ministry said in a statement it sold 99,113 securities at an annual discount interest rate of 6.30%. Demand totalled EUR 108.6mn. The securities mature on 25 December, 2013. This was the ministry's fifth issue of short-term euro-denominated debt so far this year. In May, it sold out a EUR 100mn issue of 18-month T-notes at an annual discount rate of 6.19% as demand totalled EUR 132mn. In the beginning of June, the ministry sold out a EUR 50mn issue of two-year T-notes at an annual discount interest rate of 6.25% as demand reached EUR 65.7mn. In March, it sold out a EUR 50mn issue of two-year T-notes as well, yielding an annual 6.1%, as demand totalled EUR 58mn. In February, the ministry placed EUR 55.2mn worth of 53-week T-notes, or 46% of total on offer, at an annual discount rate of 5.95% as demand totalled EUR 94.5mn. Prior to February, Serbia last offered euro-denominated securities to investors 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. The ministry has said it plans to sell dinar-denominated debt paper worth a nominal RSD 52.9bn and euro-denominated securities of EUR 150mn in June. It placed RSD 20.75bn worth of short-term debt paper denominated in dinars in May, below its RSD 34.3bn target, and sold out a EUR 100mn of euro-denominated securities. |
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