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Serbia's Raiffeisen Banka sells 51.3 mln euro corporate bond

Jun 12, 2024, 9:37:22 AMArticle by Iskra Pavlova
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June 12 (SeeNews) - Serbia's Raiffeisen Banka, a unit of Austria's Raiffeisen Bank International (RBI), said it has placed a four-year bond issue worth 6 billion dinars ($55 million/51.3 million euro).

Serbia's Raiffeisen Banka sells 51.3 mln euro corporate bond
Source: Raiffeisen Bank International

Raiffeisen Banka sold 300 bonds at 20 million dinars each, equal to their par value, the lender said in a filing with Serbia's central securities depository and clearing house last week.

The bonds have an interest rate of 3-month BELIBOR plus 2.50% and will mature on June 6, 2028. BELIBOR is the benchmark rate offered on dinar deposits by Serbian banks in the interbank market.

Out of 20 active banks in Serbia at the end of March, Raiffeisen Banka was the third largest in terms of assets, behind the local unit of Italy's Intesa Sanpaolo - Banca Intesa Beograd (BIB), and OTP Banka Srbija, according to central bank data.

RBI said in May that the after-tax profit of its Serbian unit rose to 71 million euro ($76 million) in the first quarter of 2024 from 46 million euro in the like period of last year.

(1 euro = 117.068 dinars)

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