Broker company and six banks express interest in municipal bonds of Novi Sad

(Novi Sad)

The City of Novi Sad yesterday opened bids for municipal bonds. A total of four bids were submitted - by six banks and one broker company. Two banks submitted independent bids, while four banks joined to submit a single bid.

Zivko Makaric, a member of the City Council for Finance, told Dnevnik daily newspaper that independent bids had been submitted by Erste Bank and UniCredit Bank, Banca Intesa, Hypo Alpe-Adria Bank, Societe Generale Bank and Komercijalna Banka had submitted a joint bid, while the fourth bid had come from the broker company Citadel.

- The City Committee, formed by the mayor, will forward its decision to the City Council by the week's end, stating if they choose a loan of RSD 3.5 billion or securities. Once the City Council adopts that decision, it will be discussed at the City Assembly in May – said Makaric.

He pointed out that the city would choose the cheaper option.

Let us remind that the bids for loans were opened about ten days ago. There were a total of three bids, two of which were submitted by two independent banks, while the third came from three banks that joined forces to submit a bid.