Erste Bank dinar-denominated bonds in high demand

Investor demand for a second emission of Erste Bank long-term dinar-denominated bonds has exceeded supply by 10 pct after 3.87 bln dinars worth of bonds have been subscribed and paid in during a public offer, with the offered emission totalling 3.5 bln dinars.

18 Februar 2019 14:12

NOVI SAD - Investor demand for a second emission of Erste Bank long-term dinar-denominated bonds has exceeded supply by 10 pct after 3.87 bln dinars worth of bonds have been subscribed and paid in during a public offer, with the offered emission totalling 3.5 bln dinars.

As part of the emission, aimed at professional investors, 350,000 bonds with a nominal individual value of 10,000 dinars (1 euro = 118 dinars), a maturity of two years and one day and a variable interest rate of three-month BELIBOR plus 1.0 pct were issued, the bank said in a statement.


The investors include domestic banks, insurance companies and pension funds and a leading international development bank - the European Bank for Reconstruction and Development, the bank said.


Erste Bank said it would use the money obtained through the sale of the bonds for funding and further improvement of its operations in the retail and business sectors.

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