The State of the Republic of San Marino issues government bonds. The relevant information is available and constantly updated in this section.
The issue of government bonds of the Republic of San Marino is authorised within the annual limit set in the State Budget, approved each year by the Great and General Council, pursuant to Article 18 of Law no. 30 of 18 February 1998, or in any budget adjustment law, pursuant to Article 25 of the same Law.
The characteristics of each issue of government bonds are defined by special delegated decrees, which regulate each issue.
Government bonds are issued in implementation of the delegation referred to in Article 2 of Law no. 202 of 20 December 2024 "BUDGET OF THE STATE AND PUBLIC ENTITIES FOR THE 2025 TAX YEAR AND MULTI-YEAR BUDGETS FOR THE PERIOD 2025/2027".
Issues of Government bonds for a total amount of EUR 105,000,000.00 (one hundred and five million/00), to be placed on the domestic market, is planned for 2025.
The characteristics, duration and redemption terms of such issues are defined by special delegated decrees, which regulate each issue.
LAW NO. 202 OF 20 DECEMBER 2024 (only in Italian)
This section provides information on the issues of government bonds placed on the domestic market, promoted by the Congress of State:
GOVERNMENT BONDS ON THE DOMESTIC MARKET
|
Date of issue |
Regulatory framework |
ISIN code |
Currency |
Principal amount |
Principal amount to be repaid (updated as of 02 July 2025) |
Maturity |
Interest rate |
|
01 July 2025 |
Delegated Decree no. 82/2025 (only in Italian) |
SM000A4ECHJ5 |
EUR |
27,500,000.00 |
27,500,000.00 |
01 July 2035 |
2.45% |
|
01 July 2025 |
Delegated Decree no. 81/2025 (only in Italian) |
SM000A4ECBS9 |
EUR |
27,500,000.00 |
27,500,000.00 |
01 July 2030 |
2.15% |
|
23 December 2024 |
Delegated Decree no.156/2024 (only in Italian) |
SM000A3L48W5 |
EUR |
50,000,000.00 |
50,000,000.00 |
23 December 2025 |
2.50% |
|
01 January 2023 |
Delegated Decree no. 169/2022 (only in Italian) |
SM000A3LCG68 |
EUR |
86,777,000.00 |
86,115,000.00 |
31 December 2042 |
1.75% |
|
01 January 2023 |
(only in Italian) |
SM000A3LCG50 |
EUR |
55,024,000.00 |
53,458,000.00 |
31 December 2037 |
1.50% |
|
21 July 2022 |
Articles 3 and 4 of Law no. 94/2022 (only in Italian) |
SM000A3K7BT5 |
EUR |
53,770,000.00 |
38,170,000.00 |
21 July 2032 |
1.00% |
|
30 September 2021 |
(only in Italian) |
SM000A3KUWQ0 |
EUR |
19,000,000.00 |
19,000,000.00 |
PERPETUAL BOND |
0.10% |
|
30 December 2020 |
Articles 2 and 3 of Law no. 223/2020 (only in Italian) |
SM000A2860E7 |
EUR |
455,000,000.00 |
400,000,000.00 |
PERPETUAL BOND |
1.75% |
|
29 November 2019 |
Delegated Decree no. 153/2019 (only in Italian) |
SM000A2R8AU7 |
EUR |
34,000,000.00 |
34,000,000.00 |
29 November 2029 |
2.00% |
|
31 May 2016 |
Delegated Decree no. 55/2016 (only in Italian) |
SM000A180MM1 |
EUR |
10,000,000.00 |
10,000,000.00 |
31 May 2026 |
Mixed capped rate |
|
23 March 2016 |
Delegated Decree no. 17/2016 (only in Italian) |
SM000A18X1M6 |
EUR |
40,000,000.00 |
40,000,000.00 |
23 March 2026 |
Mixed capped rate |
For further technical information, please refer to the special section of the Central Bank of the Republic of San Marino and to the press release page concerning Government bond issues.
This section provides information on the issues of government bonds placed on international markets, promoted by the Congress of State: Year of issue; Regulatory framework; ISIN; Principal; Maturity; Interest rate; Press releases and other news.
