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Nov 16, 2017 16:17 EEST
November 16 (SeeNews) - Serbia's finance ministry said on Thursday it plans to issue its first savings bonds on December 27, aiming to invigorate the domestic debt market.
The savings bonds will be issued in euro and Serbian dinars and will be available for subscription at the offices of state-owned bank Postanska Stedionica between November 20 and December 1, the finance ministry said in a statement.
The finance ministry will issue savings bonds worth 12 billion dinars ($119.2 million/101.4 million euro) and 80 million euro ($94 million), with a maturity of between two and 10 years. The coupons will stand at between 3% and 5.5% for the dinar-denominated government securities and between 0.5% and 2.75% for the euro-denominated savings bonds, depending on maturity.
A minimum investment of 2,000 dinars for dinar-denominated savings bonds and 100 euro for euro-denominated securities will be required.
Investors will be able to acquire up to 5,000 dinar-denominated bonds with a total value of 10 million dinars and up to 500 euro-denominated savings bonds worth a total of 50,000 euro.
(1 euro = 118.382 dinars)
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