Bosnia's autonomous Serb Republic raised less than it had sought to help pay maturing debt in an auction of five-year bonds that ended on Thursday. The sale brought in 18.4 million Bosnian marka ($10.8 million) on Thursday, the second day of the auction, bringing the total to 39.2 million marka. Bids for the bonds, which carried a fixed coupon of 4 percent, amounted to 44.4 million marka against 40 million marka on offer, the Serb Republic finance ministry said.
They sold at a weighted average yield of 4.455 percent, up from 4.25 percent at the last sale of five-year debt in December, it said. The proceeds of the sale were intended to help the region plug its budget deficit in the absence of funds from the International Monetary Fund.