State-controlled Telekom Srbija plans to issue euro- and US dollar-denominated bonds worth between between EUR 400m and EUR 850m in 2024 and 2025, local media reported.
This decision will be voted on by shareholders at an extraordinary assembly on October 14, news outlet N1 reported, citing documents for the meeting.
Telekom Srbija CEO Vladimir Lucic told local media last month the company plans to issue eurobonds on the European market to refinance its existing debt.
In September 2020, Telekom Srbija sold five-year corporate bonds worth RSD 23.5bn (EUR 201m).
Serbia’s government controls 58.11% of Telekom Srbija, the company itself has a 20% stake, current and former employees own a combined stake of 6.94%, while the remaining 14.95% belongs to individual shareholders.
In addition to Serbia, the company also operates in neighbouring Bosnia and Herzegovina, North Macedonia and Montenegro, as well as in Austria, Germany, Switzerland and Turkey.
Source: SeeNews, Momentum
