Banking & Finance Update

EFSE Invests in First MREL-Compliant RSD Bonds Issued in Serbia

We are pleased to announce that Karanovic & Partners supported the European Fund for Southeast Europe S.A., SICAV-SIF (EFSE) in purchasing the first MREL-compliant RSD bonds issued in Serbia. The issuer of the bonds is Raiffeisen banka ad Beograd and the bonds are listed on the Belgrade Stock Exchange.

The total nominal value of the emission was RSD 6 billion (equivalent to EUR 51.2 million).

EFSE participates alongside reputable international lenders in local currency bond and transaction and also supports the dinarisation strategy of the National Bank of Serbia.

Karanovic & Partners team was led by Partner Maja Jovančević Šetka and Associate Dimitrije Ilić.

We are proud to have been part of this landmark transaction which strengthens Serbia’s financial sector and contributes to the development of the capital market, and congratulate all participants on the successful closing.


Partner and Associate refer 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.