EBRD дин2.5 billion floating rate bond issue

Overview:

• The European Bank for Reconstruction and Development (EBRD) has issued дин2.5 billion in a floating rate bond.
• The bond is the bank's first issue in Serbian dinars, it is dues in 2019 and was issued on the Belgrade Stock Exchange.
• The aim of the issue is to fund the bank's lending operations in Serbia. The bank has stated that it hopes that 15-20% of its lending in the country can be done in dinars.
• Raiffeisen acted as underwriters with Citigroup as marketing agent.

Sam Duke - Editor