Q:
A:
Serbia sells $1bn Eurobonds
Belgrade,
22 September 2011
Prime Minister Mirko Cvetkovic today stated that Serbia has sold Eurobonds at the international market worth $1 billion.
Author:
Beta
In an interview to Beta news agency, Cvetkovic said that this is a historic event for Serbia because this is the first time that state securities have been quoted at the European market.
He said that yesterday’s trade in Eurobonds was very successful for Serbia because the demand was twice as big as the supply, namely, offers were made to the amount of $2 billion.
The Prime Minister explained that 10-year Eurobonds were sold with the interest rate of 7.25%.
Having successfully sold Eurobonds at European stock markets, Serbia showed that it can participate in both commodity and financial exchange with the world, Cvetkovic observed.
Interest in Serbian Eurobonds was great, although this is an unfavourable time at global financial markets, which means that financial investors have confidence in Serbia and its perspective, Cvetkovic noted.
The significance of the sale of Eurobonds also lies in the fact that the state thus receives long-term sources of financing its budget liquidity and amends its balance of payments, he explained.
The Prime Minister recalled that the state has so far engaged in short-term debts only, by selling treasury bills, thus reducing the loan potential of banks that were the major buyers of these securities.
He voiced his pleasure at the way the Eurobond offer was received, adding that foreign investors were assured that the macroeconomic and political situation in Serbia is stable.
He said that yesterday’s trade in Eurobonds was very successful for Serbia because the demand was twice as big as the supply, namely, offers were made to the amount of $2 billion.
The Prime Minister explained that 10-year Eurobonds were sold with the interest rate of 7.25%.
Having successfully sold Eurobonds at European stock markets, Serbia showed that it can participate in both commodity and financial exchange with the world, Cvetkovic observed.
Interest in Serbian Eurobonds was great, although this is an unfavourable time at global financial markets, which means that financial investors have confidence in Serbia and its perspective, Cvetkovic noted.
The significance of the sale of Eurobonds also lies in the fact that the state thus receives long-term sources of financing its budget liquidity and amends its balance of payments, he explained.
The Prime Minister recalled that the state has so far engaged in short-term debts only, by selling treasury bills, thus reducing the loan potential of banks that were the major buyers of these securities.
He voiced his pleasure at the way the Eurobond offer was received, adding that foreign investors were assured that the macroeconomic and political situation in Serbia is stable.
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