Serbia’s finance ministry said it will offer 34.977 billion dinars ($348 million/297 million euro) of five-year Treasury notes at an auction on May 22 in a reopening of the issue.
The T-notes carry a coupon of 4.5% paid annually and will mature on January 25, 2023, the finance ministry said in a statement.
The government securities were first auctioned on January 23, when the finance ministry raised 11.6 billion dinars, below its target of 110 billion dinars, at an average weighted yield of 4.28%. In two subsequent auctions of the same issue on March 13 and March 27, the yield fell to 4.20% and 4.15%, respectively.
In the two latest auctions of the issue, held on April 10 and May 8, the government raised 3.262 billion dinars at an average yield of 4.15% and 9.8 billion dinars at an average yield of 4.15%, respectively.