On 31 October, EY and Karanović & Partners hosted a conference titled “Bond Financing – Benefits and Challenges from Financial and Legal Perspectives” at the Hyatt Regency Belgrade, to discuss the benefits and challenges of corporate bonds issuance through the prism of Corporate Bond Issuance Program supported by the Ministry of Finance.
The event opened with remarks from Ognjen Popović, Assistant Minister in the Financial System Department of the Ministry of Finance, Republic of Serbia. He introduced a support program aimed at stimulating Serbia’s capital market by assisting companies interested in issuing corporate bonds. Through this program, the Ministry covers issuance costs and provides full legal and technical support, making it easier for companies to access affordable financing while enhancing their reputations. Mr Popović emphasised the Government’s commitment to advancing the Serbian capital market as a key driver of economic growth.
Our Partners Ivan Nonković and Katarina Gudurić introduced the regulatory framework in Serbia, providing a practical roadmap for companies entering the bond financing arena.
They reviewed the legal aspects of bond issuance, emphasising compliance and risk management. Ivan detailed the due diligence review and the steps involved in the legal examination phase, while Katarina addressed the public bond issuance process, covering documentation preparation, regulatory approval, investor marketing, and finalizing the issuance by listing the bond on the Belgrade Stock Exchange. She provided valuable guidance on the obligations of the companies following a successful bond issuance aimed at ensuring transparency and building investor confidence. This included reporting obligations, duties of the management, prohibited market practices and more.
Maja Šahbaz Marojević, Partner in the Transaction Advisory Services at EY, and Branislav Bandić, Director in the same department, led a session on bond issuance, covering the preparatory steps, procedural requirements, and strategic considerations essential for successful financing through bonds.
Mikio Suzuki, Partner in Audit, Accounting, and ESF Advisory Services at EY, and Danko Kalkan, Senior Manager in ESF Advisory Services, led a session on ESG bonds, focusing on advancing environmental and social responsibility.
The event provided participants with insights into the challenges and opportunities of bond issuance in Serbia, emphasising the role of collaboration among financial, legal, and regulatory experts in expanding the corporate bond market. We extend our sincere thanks to all the speakers, particularly the representative from the Government, whose involvement is crucial in facilitating this process. We are optimistic that such a collaborative effort will foster the continued growth and success of Serbia’s corporate bond landscape.
Partner refers to independent attorney at law in cooperation with Karanovic & Partners.
The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.
