September 17 (SeeNews) - Albania's finance ministry said it has selected JP Morgan, Societe Generale, Banca IMI & Intesa Sanpaolo Bank Albania and OTP as joint lead managers for a planned issue of its fifth Eurobond.
The selection was made based on the experience, market presence and capacity of the institutions, the risks that bear the proposals and the cost of the proposals, the finance ministry said in a notice on Thursday.
The new Eurobond will be valued at 500 million euro ($589 million), Albanian Telegraphic Agency reported in June.
Albania's government issued a 650 million euro seven-year Eurobond with a coupon of 3.625% in June, 2020. Prior to that, Albania issued a 500 million euro seven-year Eurobond with a coupon of 3.50% in 2018 and a 450 million euro five-year Eurobond carrying a coupon of 5.75% in 2015. The country's first 300 million euro Eurobond was issued in 2010 and carried a coupon rate of 7.5%.
($ = 0.8488 euro)