Serbian oil company NIS has successfully raised €16 million through its first corporate bond issuance on the domestic market, surpassing 30% of the planned amount. A total of 187,161 bonds, each with a nominal value of €85.5, were issued, slightly exceeding the minimum requirement of 175,650 bonds for the issuance to be considered successful.
The issuance agent for the bonds was the brokerage firm Dunav Stockbroker, and the subscription period ran from 29 November to 13 December. The bonds were available exclusively to investors, either individuals or entities, who purchased at least €100,000 worth of bonds (in local currency equivalent). While bondholders are allowed to transfer their bonds to third parties in line with current regulations, early redemption is not permitted.
The bonds have a five-year maturity period, with repayment of the principal due at the end of the term. They offer a fixed annual interest rate of 6.5%, with interest paid quarterly. NIS has stated that, should the issuance be deemed successful, it plans to seek approval for the prospectus and apply for the inclusion of the bonds in the Open Market segment of the regulated market on the Belgrade Stock Exchange.