News
Announcement on primary auctions of Government securities of the Republic of Serbia in Q3 2024
26-06-2024
After the successful realization of the sale of Government bonds issued on the domestic market and the successful issue of sustainable bonds issued on the international financial market, we inform you that the Republic of Serbia does not plan auctions on the domestic securities market in Q3 2024.
The Republic of Serbia successfully realized issue of sustainable Eurobonds on the international financial market
13-06-2024
On June 12, 2024 the Republic of Serbia successfully realized issue of sustainable Еurobonds denominated in US dollars on the international financial market. Sustainable Eurobonds with maturities of ten years were issued in the total amount of $1.5 billion with a coupon rate of 6.00%.
After the issuance of "green" Eurobonds of the Republic of Serbia on the international financial market in 2021, Serbia is the only country outside the European Union and on half a step closer to investment grade rating, which has also issued a sustainable Eurobonds (ESG - Environmental, Social, and Governance).
Тhe Republic of Serbia concluded hedging transaction at the same time, converting liabilities under dollar-denominated sustainable Eurobonds into euros, in order to reduce both the currency and interest rate risk. By doing so, the Republic of Serbia has reduced exposure to the USD/EUR exchange rate risk, but also the country’s de facto cost of borrowing so that after the hedging it equals 4.754% for the 10-year Eurobonds.
At the auction, in which several hundred from all over the world-interested investors participated, the total demand of investors for these Eurobonds exceeded the amount of $6.5 billion.
Republic of Serbia sold EUR 54.7M 3-year Government bonds at auction
15-05-2024
At the auction of 3-year EUR Government bonds of the Republic of Serbia, issued on January 25th, 2024 reopened on May 15th, 2024 auction volume amounted to EUR 83,915,000 with a coupon rate of 4.25% (annual coupon).
Total volume of submitted bids amounted EUR 54,733,000. Government bonds in the amount of 54,733 units were realized, having the total nominal value of EUR 54,733,000.
Government bonds were sold at YTM of 4.00 percent and maturity date is on January 29th, 2027. The annualy coupon is 4.25% and payment date is every January 29th until the maturity date.