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Albania issues 650 mln euro 10-year Eurobond

Albania issues 650 mln euro 10-year Eurobond Photo:

TIRANA (Albania), November 25 (SeeNews) - Albania successfully placed a new 650 million euro ($731 million) ten-year Eurobond, its fifth, with a coupon of 3.50%, down from 3.625% on its seven-year Eurobond issued in 2020, finance minister Delina Ibrahimaj said.

The government intends to use the issuance proceeds to provide the necessary liquidity to finance the budgetary needs for 2021 and 2022, Ibrahimaj said in a press release on Wednesday.

The issue attracted interest from 114 investors, whose bids exceeded 1 billion euro, Ibrahimaj said.

The long-term interest rate of the issuance was set at 3.75%.

JP Morgan, Societe Generale, Banca IMI and Intesa Sanpaolo Bank Albania and OTP acted as joint lead managers on the transaction.

Albania issued a 500 million euro seven-year Eurobond with a coupon of 3.50% in 2018 and a 450 million euro five-year Eurobond carrying a coupon of 5.75% in 2015. Its first 300 million euro Eurobond was issued in 2010 and carried a coupon rate of 7.5%.

($ = 0.88895 euro)