Serbia will issue its first savings bonds, the Serbian debt agency announced on Thursday, in an effort to bolster the country's domestic debt market. The tax-free savings bonds will be issued in both dinars and euros, the preferred foreign currency, and will mature in two to 10 years, the agency said in a statement on its Web site. A total of 12 billion dinars and 80 million euros worth of bonds will be issued. The dinar bonds are set to yield from 4 to 6.25 percent, the euro bonds from 1 to 4 percent.
A single investor will be allowed to purchase, per issue, up to 5,000 dinar-denominated bonds with a total value of 10 million dinars and up to 500 euro-denominated savings bonds worth a total of 50,000 euros. They will be available for purchase at the state-owned Postanska Stedionica bank between November 20 and December 1.
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