Serbia sells out EUR 87mn issue of two-year floaters

By bne IntelliNews April 14, 2014

Serbia sold out a RSD 10bn (EUR 86.6mn) issue of two-year Treasury notes at an auction on April 14, the public debt administration said.

The issue was oversubscribed with demand totalling RSD 11.6bn, or 115.7% of the offering. The Treasury sold a total of 1,000,000 T-bonds with a variable coupon, equal to the central bank's reference interest rate (9.5% at present) plus 1.49% annually. Payments dates are April 16, 2015 and April 16, 2016.

Serbia started issuing T-notes with a floating coupon rate in August 2012 in order to offer investors a better protection from rising inflation. At the previous such auction held in March 2014, the Treasury sold RSD 8.9bn, or 88.8% of the amount on offer. The securities had the same variable coupon, equal to the central bank's reference interest rate (also 9.5% in March) plus 1.49% annually.

Serbia plans to sell dinar-denominated debt paper worth a nominal RSD 33bn and EUR 225mn of euro-denominated securities in April 2014. In March, the Treasury sold RSD 49.9bn in dinar-denominated debt papers, 83.1% of the monthly target, and EUR 118.0mn in euro-denominated securities (94.4% of the target).

Related Articles

RBI doubles net profit y/y in Q1 as Russian business recovers

Raiffeisen Bank International (RBI), the second largest bank operating across Central and Eastern Europe by assets, reported that net profit almost doubled year-on-year to €220mn in the first ... more

China's Hesteel Group to boost investments in Serbia’s Smederevo steel mill

Representatives of China's Hesteel Group, which acquired Serbia’s only steel mill Zelezara Smederevo in July 2016, plan to invest ... more

French court refuses to extradite ex-Kosovo PM Haradinaj to Serbia

The Court of Appeals in the French town of Colmar decided on April 27 not to extradite Kosovo’s former Prime Minister Ramush Haradinaj to Serbia.  The decision was celebrated in Kosovo and ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss