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12 May 2026
press release
serbia

Serbia: Schoenherr advises on EUR 3bln bond issuance and tender offer by Republic of Serbia

Moravčević Vojnović and Partners in cooperation with Schoenherr advised Deutsche Bank AG as arranger and dealer, as well as BNP Paribas, Merrill Lynch International, Morgan Stanley and UniCredit Bank GmbH as dealers, on a landmark bond issuance by the Republic of Serbia totalling approximately EUR 3bln across three tranches.

The transaction was executed under Serbia's Global Medium Term Note Programme and comprised two euro-denominated tranches – EUR 1bln and EUR 900m in Green Notes – alongside a USD 1.25bln dollar-denominated tranche.

The issuance was structured in connection with the Republic of Serbia's concurrent tender offer for the repurchase of its outstanding notes due 2027, which resulted in the successful buyback of notes with a value of EUR 870m.

The Schoenherr team was led by Nikola Babić (Partner) and further included Petar Vučinić (Attorney at Law).

White & Case LLP advised the Republic of Serbia as issuer on English and US law. Linklaters LLP advised the arranger and dealers on English and US law.

Petar
Vučinić

Attorney at Law

montenegro

press contact

Katharina
Falkner

Corporate Communications Manager

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