Serbia launches €1 billion 12-year notes at mid-swaps plus 180 bps

By Rebecca Melvin

New York, Feb. 24 – The Republic of Serbia, acting through its Ministry of Finance, has launched €1 billion of 12-year senior notes to yield mid-swaps plus 180 basis points, according to a syndicate source on Wednesday.

Pricing was tighter than guidance of mid-swaps plus 190 bps to 195 bps and from initial talk at mid-swaps plus 210 bps to 215 bps.

The order books stood at more than €3.2 billion at the time of the launch.

BNP Paribas, Citigroup, Deutsche Bank and Erste Group are joint bookrunners of the Rule 144A and Regulation S deal.

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