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Serbia successfully placed euro-nominated bond

May 12, 2020
Serbia (Ba3/BB+/BB+) placed a 3.125% 15may2027 Eurobond of 2 billion euros. The coupon payment will be done annually. 

Demand exceeded 4.7 billion euros, twice bigger than the final issue volume. It allowed reducing the initial yield benchmark, set at 3.75% –4%, up to 3.125% per annum. As a result, the demand for the Eurobond became a record for Balkan countries. 

JP Morgan, Citigroup, BNP Paribas, and Deutsche Bank became underwriters. The listing will be held on the London Stock Exchange.  

The Eurobond will be used to refinance the public debt and cover the budget deficit. Additionally, the funds will be used to finance economic activities aimed at recovery after coronavirus. This Eurobond became the second euro-nominated for the sovereign after its debut in June 2019

According to the Ministry of Finance, Serbia is a single European country that tapped the international market in times of COVID-19 without ECB’s support.
  • Status
    outstanding
  • Country of risk
    Serbia
  • Redemption (put/call option)
    *** (***)
  • Amount
    2,000,000,000 EUR
  • М/S&P/F
    — / — / —
Company — Serbia
  • Full name
    Serbia
  • Registration country
    Serbia