Q:
A:
Financing budget gap for this year secured
Belgrade,
28 September 2012
Minister of Finance and Economy Mladjan Dinkic said that Serbia managed to sell $1 billion worth of Eurobonds in the international market, which is sufficient to finance this year's budget deficit.
Author:
Tanjug
The yield is 6.625% 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%, Dinkic told reporters at the parliament on Thursday.
During the reopening of the current emission of Eurobonds, which mature in 2021, between 10.00 and 19.00 on Thursday, demand exceeded $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 Dinkic.
As the day progressed and demand was on the rise, the government decided to increase the offering from $750 million to $1 billion, said Dinkic.
Dinkic recalled that by the end of 2012, the Russian Federation is expected to approve a $1 billion loan to Serbia, which would also be used to bridge the gap in the 2012 budget.
During the reopening of the current emission of Eurobonds, which mature in 2021, between 10.00 and 19.00 on Thursday, demand exceeded $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 Dinkic.
As the day progressed and demand was on the rise, the government decided to increase the offering from $750 million to $1 billion, said Dinkic.
Dinkic recalled that by the end of 2012, the Russian Federation is expected to approve a $1 billion loan to Serbia, which would also be used to bridge the gap in the 2012 budget.
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