July 20 (SeeNews) - Bosnia's Serb Republic finance ministry said on Friday it completed the early redemption of 117.73 million marka ($70.1 million/60.2 million euro) of seven-year Treasury bonds on the Banja Luka Stock Exchange.
The repurchased securities represented the first issue of bonds by the Serb Republic on the domestic market, made through the Banja Luka Stock Exchange on November 18, 2011, with a total nominal value of 120 million marka and an annual coupon of 5%, the finance ministry said in a statement.
The main reasons for the early redemption of the bonds are the favourable economic trends and liquidity available in the budget of the Serb Republic, the ministry said.
The ministry repurchased a total of 1,177,300 bonds with a nominal value of 100 marka apiece.
The average weighted price accepted in the auction in November 2011 was equal to 90.47% of par, translating into an average annual yield of 6.83%.
(1 euro = 1.95583 marka)