Saabac starts municipal bonds sale

The City of Sabac has started today sale of long-term municipal bonds totaling RSD 400 m, indexed in euros.

According to the announcement in daily print, public sale of bonds whose emission was planned for funding the end of indoor swimming pool construction will last until December 18.

As the City of Sabac announced, registration of municipal bonds will be available in 93 banks in Serbia which sponsor the emission.

Sabac bonds have been issued with the prospect so that they will be ranked at "open market" of the Belgrade Stock Market.

Maturity is seven years with a grace period of two years during which only interest rate is paid. Interest rate is 6% and is paid twice a year.