Serbia sells out EUR 88mn issue of 53-week T-notes, yields drop
Serbia sold out a RSD 10bn (EUR 88mn) issue of 53-week T-notes on Tuesday, October 29, the public debt administration said.
The issue was oversubscribed almost two times with demand equalling RSD 18.1bn, or 181.5% of the amount on offer.
The Treasury sold 1,000,000 securities at an annual yield of 10.14%, down from 10.77% in the previous such auction in September. The newly sold securities mature on November 6, 2014. In September, Serbia sold out again RSD 10bn worth of 53-week T-notes as demand was equal to 173.7% of the offer.
Earlier in October, on the other hand, Serbia re-opened a 53-week T-notes issue maturing in June 2014, selling RSD 7.6bn (EUR 67mn) worth of papers at an annual yield of 9.95%. The T-notes had a 251-day residual maturity.
Serbia plans to sell dinar-denominated debt paper worth a nominal RSD 24bn and euro-denominated securities worth EUR 150mn in November 2013. In October, the Treasury sold RSD 33.0bn in dinar-denominated debt paper, 75.8% of the monthly target, and EUR 61.3mn in euro-denominated securities (64.6% of the target).
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