EBRD issues bonds worth RSD 2.5 billion – Offers amount to four billion

The European Bank for Reconstruction and Development (EBRD) has issued RSD-denominated bonds in the amount of RSD 2.5 billion, and the offer equaled as much as RSD 4 billion, it was reported today at the press conference at the National Bank of Serbia.

President of the Executive Board of Raiffeisen Bank, Zoran Petrovic, said that the bank had obliged as the underwriter to buy the entire issue in case there were no offers.

The bonds were issued for a period of three years with a variable interest rate defined as three-month BELIBOR, a reference rate for RSD assets in the Serbian interbank market, plus 0.4 basis points.

Governor of the National Bank of Serbia, Jorgovanka Tabakovic, pointed out that talks about issuing RSD-denominated bonds had started in 2005, but that the conditions had been met only then, thanks to low interest rates, a low deficit and a stable exchange rate.

The bonds of the minimum value of RSD 10 million will be available for purchase to professional investors – pension insurance funds, banks and insurance companies.

Even though there's also a legal option of banks' issuing bonds, so far, only two banks in Serbia – Erste Bank and Societe Generale – have issued RSD-denominated bonds.

EBRD London

Erste Bank a.d. Novi Sad

OTP banka Srbija a.d. Novi Sad

Narodna banka Srbije Beograd

Raiffeisen banka a.d. Beograd

European Bank for Reconstruction and Development

EBRD

NBS

RSD denominated bonds

Zoran Petrovic

BELIBOR

Jorgovanka Tabakovic

issuing bonds

interest rate on bonds

pension insurance funds

insurance companies