The company Telekom Serbia announced on Tuesday that it had successfully closed its second international corporate bond issue, raising approximately €1,95 billion through a multi-tranche senior unsecured issue bond denominated in US dollars and euros.
The transaction generated strong investor interest, with a total demand of US$13,87 billion from approximately 300 leading international institutional investors, making it the largest corporate bond issue ever realized in the Southeast, Central and Eastern Europe region.
Telekom pointed out that it is one of the most sought-after corporate transactions in emerging markets globally during 2025 and 2026.
It was specified that the bond issue attracted the participation of many of the world's most reputable pension funds, insurance companies, investors linked to state funds and global asset managers, with some top international institutions investing in the region for the first time through Telekom Serbia's offer.
Telekom Srbija CEO Vladimir Lučić said that this transaction represents a turning point not only for the company, but also for the wider regional capital market.
"Telekom Srbija is increasingly recognized not as a regional story, but as a credible international issuer with strong foundations for growth and a clear path to an investment credit rating," said Lučić.
This show, as stated, comes after a period of record operational and financial results for Telekom Srbija.
During 2025, the company achieved revenues of 2,3 billion euros and adjusted EBITDA of 1,3 billion euros, further strengthening its position as one of the leading telecommunications and digital infrastructure operators in Southeastern Europe.
The transaction will enable Telekom Srbija to refinance existing debts under more favorable conditions, extend the term structure of the debt through different currencies and maturities, as well as to additionally optimize its capital structure without increasing the total debt, the announcement reads.
It is expected that the successfully realized transaction will further increase the visibility of the Serbian and regional capital market among global institutional investors, as well as strengthen international confidence in Southeast Europe as a growing investment destination.
Source: Beta
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