BANJA LUKA (Bosnia and Herzegovina), April 18 (SeeNews) – Bosnia's Serb Republic will auction 50 million marka ($27.3 million/25.6 million euro) in 5-year Treasury notes on May 3, the entity's finance ministry said on Tuesday.
The government securities, with a nominal value of 1,000 marka each, will bear a fixed annual interest rate of 3.5%, the ministry said in a bourse filing. The issue matures on May 5, 2022.
The Serb Republic's last auction of 5-year T-notes was held in November last year, when the finance ministry raised 25.3 million marka at a weighted average yield of 3.78%.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation of Bosnia and Herzegovina.
Both entities are planning to raise funds via several auctions of government securities after the International Monetary Fund said earlier this month it expects a significant delay in the completion of the first review under its current three-year loan deal with Bosnia following the country parliament's failure to adopt amendments to the law on excise tax and a new law on deposit insurance.
(1 euro=1.95583 Bosnian marka)