Bosnia’s Republika Srpska to place up to €200mn bond on international markets in mid-2018

Bosnia’s Republika Srpska to place up to €200mn bond on international markets in mid-2018
The parliament in Banja Luka (pictured), Republika Srpska's administrative centre, would have to approve the planned bond issue. / Rade Nagraisalović
By bne IntelliNews May 17, 2018

Bosnia & Herzegovina’s Republika Srpska plans to issue a €200mn bond on international markets in the middle of 2018, the entity’s Finance Minister Zoran Tegeltija said on May 17 as quoted by Indikator.ba. The entity’s government is seeking parliament’s approval for the issue.

Republika Srpska has cancelled several auctions of six-month T-bills on the domestic market this year after Bosnia has received the second tranche of around €75mn by the International Monetary Fund. The entity is now seeking to increase its long-term borrowing to BAM540.13mn (€276.16mn) this year from the initially planned BAM477mn.

“The capacity of the domestic market is limited, and there is also limitation of the banks’ exposure towards Republika Srpska’s public sector,” Tegeltija told MPs.

Previously, Republika Srpska planned to try placing bonds on international markets in 2015 with the support of the World Bank, but gave up the idea.

According to its initial budget plan, Republika Srpska was supposed to borrow a total of BAM563.4mn this year to cover its budget spending, but the government is now seeking to increase the sum to BAM565.8mn, of which the biggest share – BAM491.5mn – should come from security issues.

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