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As soon as Telekom Srbija issued corporate bonds, the National Bank of Serbia bought half of the issue from the banks that bought them, “Danas” learned.
At the end of last week, the national telecommunications operator Telekom Srbija issued corporate bonds worth 23.5 billion dinars (about 200 million euros), which are the first bonds issued by a national company since corporate bonds were included in the package to help the economy in the fight against crises caused by coronavirus, remember “Today” and he adds that, surprisingly, the National Bank informed us about that, and not Telecom itself.
The NBS announcement establishes that the bonds are for five years, in dinars and with an interest rate of 3.97 percent, which is the sum of the three-month belibor and a margin of 2.95 percent.
According to “Danas”, four commercial banks are buyers of these five-year bonds, and as the newspaper unofficially finds out from those familiar with the transaction, the National Bank has already bought Telecom corporate bonds worth around 100 million euros.
“Danas” did not receive a response from NBS to a question about that purchase yesterday.
Goran Radosavljevic, a professor at the FEFA, points out to “Danas” that it is good for a company to issue bonds, but “unfortunately it is a state company”, and this measure is intended to be an aid in the fight against kovid.
“We do not know who bought the bonds. Although it is a state company and in which we are all shareholders, there is no transparency. We do not know what will happen to those bonds. The question is whether someone bought them just to save them until the NBS buys them. Yes, other countries do the same, but with the intervention of the ECB it is known exactly from whom it is bought, in addition, if the BNE bought the bonds, if it bought them with a discount or coupon, if it is not with a discount, why did I buy them? I’d buy, “Radosavljević wonders.
If the NBS bought the bonds, then it is de facto state aid, although it is not illegal, adds Radosavljevic.
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