BELGRADE (Serbia), February 4 (SeeNews) – Serbia's Erste Bank Novi Sad plans to issue two-year bonds in the total nominal amount of up to 3.5 billion dinars ($33.8 million/29.6 million euro), the lender said on Monday.
The securities, maturing on February 15, 2021, will be issued on February 14 and the payment deadline is February 13, the bank said in a prospectus posted on its website.
The interest rate consists of a variable and a fixed part and payments will be due on a quarterly basis. The variable part is equal to a three-month BELIBOR, while the fixed part represents a fixed margin of 100 basis points, Erste Bank Novi Sad said.
"We believe that by expanding the range of issued bonds we will accelerate the development of the domestic capital markets and the secondary debt securities market," the CEO of Erste Bank Novi Sad, Slavko Caric, said in a separate statement on Monday.
The bonds will be listed on the Belgrade Stock Exchange and secondary trading will be possible on a regulated basis, Erste Bank Novi Sad added.
(1 euro = 118.377 dinars)