Serbia to price dollar 10-year notes via four bookrunners

By Rebecca Melvin

New York, Nov. 20 – The Republic of Serbia has selected bookrunners and scheduled a global investor call regarding a proposed U.S. dollar-denominated offering of 10-year notes, according to a market source.

BNP Paribas, Deutsche Bank, JPMorgan and UniCredit are organizing the meeting set to occur on Friday.

A Rule 144A and Regulation S deal, under the sovereign’s newly established global medium-term note program, will follow subject to market conditions.

The proceeds are earmarked to fund a concurrent tender offer of the sovereign’s 7¼% notes due 2021, of which $1.6 billion is outstanding. Any remaining proceeds will be used to fund a budget deficit.

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