New Bonds Will Provide Domestic Benchmark

June 2007 | Risk Summary

Bosnia is set to launch its BAM1.7bn (US$1.2bn) bonds, which will be used to repay frozen hard currency deposits. It was initially agreed that the bonds would mature in 13 years, but there has been public and political pressure for a shorter timeframe. The launch of the bonds is a milestone for Bosnia, as the first convertible mark-denominated securities available, and as such will not only provide an important asset class for the domestic banking sector, but will create a benchmark for sub-sovereign and corporate issuance.

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