Serbian govt. secures funding for first half of 2013

The Serbian government has provided regular state funding for the first half of 2013, by selling Eurobonds for USD 750mn at the international financial market.

Izvor: Tanjug

Thursday, 15.11.2012.

12:45

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BELGRADE The Serbian government has provided regular state funding for the first half of 2013, by selling Eurobonds for USD 750mn at the international financial market. This is according to the Serbian Finance and Economy Ministry. Serbian govt. secures funding for first half of 2013 This is the second time in a month and a half that Serbia sold Eurobonds. On September 28, the country sold USD 1bn worth of the security, with the yield of 6.625 percent annually. Another successful issuance of Eurobonds belonging to the Republic of Serbia was carried out on Wednesday, when all USD 750mn of five-year Eurobonds with the yield of 5.45 percent and interest rate (coupon) were sold, the statement reads. The overall investor demand reached USD 3.7bn, which is over seven times more than the initial offer which amounted to USD 500mn. This made is possible for the Ministry to improve the conditions of sale and additionally lower the interest rate and increase the sales volume of Eurobonds to USD 750mn. This is a much better deal than the issuance organized by the previous government, bearing in mind the interest rate which is more favorable by almost 30 percent (lower by two percentage points) than a year ago, the statement reads. "This is a clear indication that the international market considers seriously the new government's program of fiscal consolidation and draft budget for 2013, which will halve the budget deficit," the Finance Ministry released. A total of 167 financial investors from around the world took part in trade in Serbian Eurobonds on Wednesday. Most of the investors come from the USA (47 percent), Great Britain (27 percent), Germany (eight percent), Hong Kong (four percent), Denmark, Austria and the Netherlands (two percent each), and Russia and Switzerland (one percent each), the statement reads. (Tanjug, file) Tanjug

Serbian govt. secures funding for first half of 2013

This is the second time in a month and a half that Serbia sold Eurobonds. On September 28, the country sold USD 1bn worth of the security, with the yield of 6.625 percent annually.

Another successful issuance of Eurobonds belonging to the Republic of Serbia was carried out on Wednesday, when all USD 750mn of five-year Eurobonds with the yield of 5.45 percent and interest rate (coupon) were sold, the statement reads.

The overall investor demand reached USD 3.7bn, which is over seven times more than the initial offer which amounted to USD 500mn.

This made is possible for the Ministry to improve the conditions of sale and additionally lower the interest rate and increase the sales volume of Eurobonds to USD 750mn.

This is a much better deal than the issuance organized by the previous government, bearing in mind the interest rate which is more favorable by almost 30 percent (lower by two percentage points) than a year ago, the statement reads.

"This is a clear indication that the international market considers seriously the new government's program of fiscal consolidation and draft budget for 2013, which will halve the budget deficit," the Finance Ministry released.

A total of 167 financial investors from around the world took part in trade in Serbian Eurobonds on Wednesday.

Most of the investors come from the USA (47 percent), Great Britain (27 percent), Germany (eight percent), Hong Kong (four percent), Denmark, Austria and the Netherlands (two percent each), and Russia and Switzerland (one percent each), the statement reads.

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