Ser­bian bonds.

Kathimerini English - - Business & Finance -

Ser­bia plans to sell as much as 700 mil­lion eu­ros ($994.9 mil­lion) in bonds to cap­i­tal­ize on re­newed in­vestor in­ter­est in the Balkan nation, Prime Min­is­ter Mirko Cvetkovic said. About 20 per­cent of the se­cu­ri­ties sold will be in di­nar, with the rest in for­eign cur­rency, Cvetkovic said yes­ter­day in an in­ter­view in Bel­grade. The gov­ern­ment is seek­ing a fi­nan­cial ad­viser, he said. “We now ex­pect big play­ers to re­spond and then we will agree on the Eu­robond is­sue,” Cvetkovic said while at­tend­ing an in­vestor fo­rum. “We are talk­ing about a to­tal of around 700 mil­lion eu­ros, with around 100 mil­lion or 200 mil­lion in di­nar.” Ser­bia has stepped up bor­row­ing this year in the lo­cal mar­ket, en­cour­aged by grow­ing in­vestor in­ter­est in yields of more than 10 per­cent on di­nar-de­nom­i­nated debt. (Bloomberg) line level, and we be­lieve the mar­ket will have to fo­cus more on as­set growth prospects,” the Lon­don-and War­saw­based an­a­lysts said in the note. “While risk costs should con­tinue to de­cline, rev­enue growth ex­pec­ta­tions may be too high,” they said. “We see only a grad­ual re­cov­ery in lend­ing and only Rus­sian banks as likely to grow at dou­ble-digit rates in 2011.” The for­mer com­mu­nist coun­tries of Europe and cen­tral Asia are re­cov­er­ing from their deep­est re­ces­sions since switch­ing to free-mar­ket poli­cies, af­ter cheap credit helped growth an av­er­age 5 per­cent in the years be­fore the credit crunch. Credit con­tracted in many coun­tries dur­ing the cri­sis and is now “a frac­tion of pre-cri­sis lev­els,” ING said.

(Bloomberg)

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.