First transaction using dinar-denominated EBRD bonds worth RSD 60 million conducted

The first transaction using dinar-denominated bonds of the European Bank for Reconstruction and Development was completed on Monday, June 5, 2017, at the Belgrade Stock Exchange.

The value of the transaction amounted to RSD 60 million. It contributed to a great extent to the daily turnover, which amounted to RSD 68.3 million.

The dinar-denominated EBRD bonds were issued as a public offering, and they were registered in December 2016 and are the first bonds of a supranational institution in the local market.

The sponsor role for the first bond issue in the market of the Republic of Serbia was put in trust of Raiffeisen Bank by the EBRD.

The standard of supranational institutions in issuing bonds is to use the services of the sponsor of the issue, that is, a local market participant of their choice, which leads them through the process of the public offering and registration of the bonds, while also guaranteeing a buyout of the entire issue in case of insufficient demand in the market.

The issue of bonds denominated in local currency and the first transaction using them is in many ways a historical event for the Serbian market, and the primary goal is to increase the dinarization of the financial system in Serbia, but also to stimulate a more intensive crediting in dinars, Raiffeisen Bank reported.

Raiffeisen banka a.d. Beograd

EBRD Evropska banka za obnovu i razvoj Beograd

Beogradska berza a.d. Beograd

EBRD

dinar denominated bonds of the European Bank for Reconstruction and Development

sale of dinar denominated bonds

dinarization

crediting in dinars

dinar credits