Serbia sells out EUR 88mn issue of 53-week T-notes, yields drop

By bne IntelliNews October 30, 2013

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).

Related Articles

Russia keeps Serbia waiting for promised MIGs

Russia plans to deliver six used MIG 29 aircraft to Serbia by end-2017, Russia’s Federal Service for Military-Technical Cooperation (FSMTC) Director Dmitry Shugaev said on July 19, Sputnik ... more

Fiat workers end 3-week strike that halted production at Serbia's top exporter

Production at the Fiat Chrysler Automobiles (FCA) Srbija factory in Kragujevac will restart on July 19 after workers and Prime Minister Ana Brnabic agreed on the evening of July 18 to end ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more