Serbia’s government said on November 24 it has issued a ten-year Eurobond worth $1.2bn on the international market amidst strong investor interest.
The bond was issued on November 23 following a seven-year pause and will be used for the early repayment of a significant portion of an outstanding debt on a US dollar Eurobond issued in 2011 at a yield rate of 7.50%.
The issue caries a coupon of 2.125% and yield of 2.35%. It also has a final interest rate, the government said in a statement.
The demand was above $6bn placed by more than 200 funds, insurance companies and banks, mainly from the U.S. and the UK.
Serbia also carried out its first-ever hedging via swap operations, swapping liabilities under the Eurobond from the U.S. dollar to the euro, thus achieving a de facto 1.066% coupon rate for financing in euro.
Related Articles
Saudi private sector secures 82% of development fund contracts worth $3bn
Saudi private companies have captured 82% of contracts signed by the Saudi Development Fund over the past three years, with a total value exceeding $3bn, according to Abdulmohsen Al-Khayyal, ... more
Construction work on $4.6bn Trans-Afghan Railway could reportedly be under way within six months
Construction work on the proposed Trans-Afghan Railway could be under way within six months, while the project could cost around $4.6bn to deliver and cut shipping transit times from Uzbekistan to ... more
Uzbekistan’s banking sector becoming more resilient, says Fitch
Uzbekistan’s banking industry is becoming more resilient, with the sector underpinned by ongoing structural reforms, stronger regulation and improving governance, ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago