At the auction held on Tuesday, Serbia sold government dinar bonds in the amount of 15.97 billion dinars, accepting all bids for these debt securities with maturity in July 2030.
“The total volume of demand at the auction amounted to 15,968,280,000.00 dinars. A total of 1,596,828 government bonds were allocated, with a nominal value of 15,968,280,000.00 dinars,” the Public Debt Administration announced. The planned sales volume for this auction was 30 billion dinars.
The achieved execution price of the bond was 10,208 dinars, slightly above the nominal value, while the execution yield was 4.55 per cent (the highest offered yield was 4.55 per cent and the lowest 44.2 per cent). This was a reopened issue of five-year government bonds with an annual coupon of 4.5 per cent. As previously stated in the public call for this auction, the nominal value of the bond is 10,000 dinars and the total issue value is 135 billion dinars.
There were six participants at the auction, who submitted a total of 13 bids. Seven bids from the banking sector were accepted, two from custody clients, one from other legal entities and one from an individual.
These securities were first issued on 28 July last year, when the entire planned amount of 35 billion dinars was successfully sold, with total demand reaching 65 billion dinars. The sale was then concluded at an execution yield of 4.49 per cent per annum. The bonds were sold at a price of 10,004.39 dinars.
The February reopening, it should be recalled, was the second one this year. At the beginning of January, dinar bonds were also offered to investors, with the issue volume on that occasion amounting to 100 billion dinars and the planned sales volume at the January auction set at 50 billion dinars. However, demand exceeded 60 billion dinars, and almost 51.6 billion dinars was allocated (nominal value for 5.16 million government bonds). The securities were sold at a yield of 4.49 per cent.
This was also the first auction of all government bonds in 2026, after which a reopening of the issue of ten-year dinar-denominated securities followed at the auction held on 27 January. In the meantime, on 24 January, the rating agency Fitch affirmed the long-term credit rating of the Republic of Serbia at BB+, with a positive outlook.
By the end of February, one more auction of government bonds is planned, this time 15-year bonds denominated in euros. The planned sales volume is 200 million euros.
According to the website of the Public Debt Administration, the preliminary level of public debt of the Republic of Serbia as of 2 February 2026 exceeds 4.58 trillion dinars.
(Bloomberg Adria, 03.02.2026)