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Jun 07, 2023 17:59 EEST
June 7 (SeeNews) - Albania has issued a 600 million euro ($642 million) Eurobond, increasing the planned amount of 500 million euro due to high demand, finance minister Delina Ibrahimaj said on Wednesday.
"Considering the capital market liquidity situation, as compared to the liquidity needs of the country, we decided to expand the bond issuance," finance minister Ibrahimaj said in a social media video.
A SeeNews email to the finance ministry seeking details of the bond issuance went unanswered by the time this article was published.
The Eurobonds have a maturity of five years, with 6.125% yield, as investor demand for the issue reached 1.3 billion euro, local economy news provider Monitor reported.
The government plans to use the proceeds to cover its financing needs and manage proactively its debt liabilities, the finance ministry said earlier.
In March, the finance ministry announced that JP Morgan, Intesa Sanpaolo Bank, Deutsche Bank, Standard Chartered and MUFG Bank would act as joint lead managers for the issuance, as well as the buyback of up to 250 million euro of an existing Eurobond maturing in 2025.
This is the sixth Eurobond issue for Albania. Thre country issued a 650 million-euro ten-year Eurobond in November 2021. Prior to that, Albania issued a 650 million euro seven-year Eurobond in 2020, a 500 million euro seven-year Eurobond in 2018 and a 450 million-euro five-year Eurobond in 2015. The first 300 million euro Eurobond was issued in 2010.
($ = 0.935092 euro)
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