Serbia sells USD 1.5 billion Eurobond

Serbia's finance ministry said it had sold a $1.5 billion (1.1 billion euro) seven-year Eurobond on the international financial market at the yield of 5.15%, with the initial offer being three times oversubscribed, SeeNews reports.

The issue carries an interest of 4.875%, the finance ministry said in a statement on its website on Thursday.

The bond placement was carried out in line with the government’s planned activities to ensure financial stability in 2013. Part of the funds will be used for the early repayment of expensive loans taken out by the Serbian state in recent years.

The offering attracted 148 financial investors worldwide, the majority being from the U.S, the UK and the United Arab Emirates.