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Serbia borrows $1.5 bln by issuing eurobonds N1 Belgrade 2–3 minutes _____ Serbia on Wednesday priced another issue of 10Y sustainability eurobonds in dollars in the international financial market, while the funds raised will be used for sustainable projects in the field of green agenda and socially responsible activities, said the National Bank of Serbia (NBS). Bonds were sold in the total amount of 1.5 bn US dollars, while investor demand during the day was multiple times higher, exceeding 6.5 bn US dollars, the NBS said. “The huge demand of international investors for Serbia’s eurobonds clearly testifies to their confidence in the long-term sound and sustainable economic indicators of our country. This is the second Serbia’s ESG (Environmental, Social, and Governance) issue following the green bond issue in 2021,” claimed the Serbian central bank. It added that, as in the case of “previous issues of dollar eurobonds, taking care of public debt sustainability, the Republic of Serbia concluded hedging transactions, converting liabilities under dollar-denominated 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 4.75 percent. This is an outstanding result, having in mind the coupon rates achieved recently by comparable countries, with an investment grade, such as Romania (5.2 percent for 8Y bonds and 5.625 percent for 13Y bonds),” said the NBS. It added that the Wednesday auction “attracted hundreds of eminent investors from all over the world.” -- http:www.antic.org --- You received this message because you are subscribed to the Google Groups "SERBIAN NEWS NETWORK" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/senet/078701dab8b5%24e4bf13d0%24ae3d3b70%24%40gmail.com.
