During the pandemic, the Ministry of Finance of Serbia went to the international capital market to raise funds in a move that brought in €2bn from the sale of government bonds. The bonds, which are listed on the London Stock Exchange, will mature in 2027. More than 300 investors including funds, insurance companies and banks expressed demand for over €7bn, which was almost four times value of the issue. The coupon rate for the 7-year bond was 3.125%, surprising those who had expected a higher interest rate. This was reduced as a result of the high level of demand or the emission.
