Minister of Finance and Economy Mlađan Dinkić has said that Serbia managed to sell USD 1 billion worth of Eurobonds in the international market.
This was sufficient to finance this year’s budget deficit, he revealed on Thursday.
“The yield is 6.625 percent per year, a much better deal than the issuance organized by the previous government, which sold USD 1 billion worth of Eurobonds with a yield of 7.5 percent,” Dinkić told reporters at the Serbian parliament in Belgrade.
During the reopening of the current emission of Eurobonds, which mature in 2021, between 10 am and 7 pm on Thursday, demand exceeded USD 4 billion, or quadruple of what was offered, and there were over 200 interested investors. Most of the buyers came from the United States and Great Britain, said Dinkić.
As the day progressed and demand was on the rise, the government decided to increase the offering from USD 750 million to USD 1 billion, said Dinkić.
Dinkić recalled that by the end of 2012, the Russian Federation is expected to approve a USD 1 billion loan to Serbia, which would also be used to bridge the gap in the 2012 budget.
Source B92
