Serbia re-enters market for euros, Croatia to follow

AdobeStock_Serbia_575x375_23Nov2020
By Mariam Meskin
24 Feb 2021

Serbia entered the bond market on Wednesday to sell a bond in euros, after entering both dollar and euro markets last year. Fellow Balkan sovereign issuer Croatia is expected to follow it, tapping investors as early as Thursday.

Serbia, Ba3/BB+/BB+, is seeking to print a Reg S/144A benchmark with a tenor of 12 years. The sovereign is expected to raise €1.5bn-2bn. 

The notes, set to mature in March 2033, were being marketed with initial price thoughts of 210bp-215bp over mid-swaps on Wednesday morning. That was later tightened ...

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