The General Assembly of Shareholders of the Oil Industry of Serbia (NIS) approved the Decision on the issuance of the company’s first bond issue, totaling 5.855 billion dinars, the company announced.
In accordance with this decision, NIS will issue 585,500 bonds as part of its first long-term bond issue, with a nominal value of 10,000 dinars per bond, and the possibility of subsequent inclusion in secondary trading on the Belgrade Stock Exchange. Buyers can only be investors (legal or natural persons) acquiring bonds in a minimum amount of 100,000 euros, in dinar equivalent, based on the official middle exchange rate of the dinar against the euro, as set by the National Bank of Serbia (NBS), for each individual offer.
Bondholders have the right to dispose of the bonds and transfer ownership to third parties, without restrictions, in accordance with applicable regulations, and do not have the right to early redemption.
The bonds will have a maturity period of five years from the issuance date.
Bondholders are entitled to principal repayment upon maturity and to receive interest payments. The bonds will be issued with a fixed annual coupon rate of 6.5%, with quarterly interest payments starting from the date of issuance.
The principal and interest payments will be made in dinars, as the dinar equivalent of the value expressed in euros, calculated at the NBS middle exchange rate on the maturity and payment date.
NIS will make the coupon and principal payments to the bondholder on the maturity date.
To fulfill the obligations under this bond issue, NIS will be fully liable with its assets in accordance with legal regulations.
The subscription and payment period will last for 15 days, and is planned to run from November 29 to December 13 of this year.
The issuance will be considered successful if at least 30% of the planned issuance volume is subscribed and paid within the specified period. If the issuance is unsuccessful, the paid amount will be refunded to the subscriber’s bank account, as listed in the subscription form, within three working days after the subscription period ends.
In the event of a successful issuance, NIS will subsequently submit an application for approval of the prospectus and for the inclusion of the bonds in the “open market” segment of the regulated market of the Belgrade Stock Exchange.
