Serbs sell less bonds than planned

Debt

Serbia sold a quarter of bonds offered Tuesday as the government sought to push yields further down amid signs that investor interest for the country’s longer debt maturities is waning. The Debt Management Agency sold RSD 1.26 billion ($14.7 million) worth of five-year bonds maturing in 2018 with an annual 10% coupon of RSD 5 billion being offered, the Belgrade-based agency said. Demand stood at RSD 2.1 billion. Investors bid five times more at a Jan. 22 auction, when the government paid 12.94% for the same maturity. Bid yields Tuesday ranged from 8.99% and 12.27%.

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