Q:
A:
Regular financing of state secured for first half of 2013
Belgrade,
15 November 2012
The Ministry of Finance and Economy stated that another very successful issue of Eurobonds of the Republic of Serbia on the international financial market was made yesterday.
The statement says that on that occasion, all of the $750 million of five-year Eurobonds with a yield of 5.45% and the interest rate (coupon) of 5.25% were sold.
The total investor demand was $3.7 billion, which is over seven times more than the initial offer, which amounted to $500 million.
This enabled the Ministry of Finance and Economy to improve the conditions of sale during trade, and to further reduce interest rates and increase the sales volume of Eurobonds to $750 million.
In this way, the Serbian government enabled a regular state funding for the first half of the next year.
These are much more favourable terms than those under which the previous government sold Eurobonds a year ago, given that the interest rate achieved today is by nearly 30% more favourable, by 2% lower than a year ago.
This is a clear sign that the international market seriously evaluates the programme of fiscal consolidation of the new government and the budget plan for 2013, which will cut the budget deficit by half.
167 financial investors from around the world took part in the trade in Serbian Eurobonds yesterday.
The most investors came from the United States (47%), Great Britain (27%), Germany (8%), Hong Kong (4%), Denmark (2%), Austria (2%), the Netherlands (2%), Russia (1%) and Switzerland (1%), it is added in the statement.
The total investor demand was $3.7 billion, which is over seven times more than the initial offer, which amounted to $500 million.
This enabled the Ministry of Finance and Economy to improve the conditions of sale during trade, and to further reduce interest rates and increase the sales volume of Eurobonds to $750 million.
In this way, the Serbian government enabled a regular state funding for the first half of the next year.
These are much more favourable terms than those under which the previous government sold Eurobonds a year ago, given that the interest rate achieved today is by nearly 30% more favourable, by 2% lower than a year ago.
This is a clear sign that the international market seriously evaluates the programme of fiscal consolidation of the new government and the budget plan for 2013, which will cut the budget deficit by half.
167 financial investors from around the world took part in the trade in Serbian Eurobonds yesterday.
The most investors came from the United States (47%), Great Britain (27%), Germany (8%), Hong Kong (4%), Denmark (2%), Austria (2%), the Netherlands (2%), Russia (1%) and Switzerland (1%), it is added in the statement.
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