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The Government of the Republic of Serbia

In the service of citizens

Serbia successfully completes another government bond issue

Belgrade, 29 April 2026

First Deputy Prime Minister and Minister of Finance Siniša Mali stated that the Republic of Serbia today successfully completed another government bond issue, attracting strong interest from American and European investors.

He noted that such investor interest in Serbia’s government bonds is the best indicator of the country’s macroeconomic success, adding that demand this time exceeded €8 billion.

For the first time, the issue was carried out in three tranches and in two different currencies. The first tranche, in the amount of €1 billion, maturing in 2031 with a coupon rate of 4.25%, will be used for the early redemption of bonds maturing next year, the First Deputy Prime Minister said.

The second tranche, he added, in the amount of €900 million, maturing in 2038 with a coupon rate of 4.875%, represents another in a series of Serbia’s sustainable bonds.

Mali underlined that the green bond is particularly important, given that the funds raised through this issue will be used exclusively to finance green projects, such as the improvement of railway infrastructure, the procurement of trains, the Belgrade metro project and more.

According to him, the remaining funds raised will also be used through the third tranche for major capital projects under the Serbia 2030 national strategy.

The last tranche, in the amount of €1.25 billion, matures in 2036, he said, adding that the Ministry of Finance carried out a financial hedging operation today, replacing the dollar coupon rate with a euro-denominated coupon rate of 4.66%.

Mali underlined that by redeeming bonds maturing in 2027 ahead of schedule, Serbia is actively managing its public debt and further strengthening the stability of public finances.