TIRANA (Albania), October 14 (SeeNews) - Albania's government is planning to issue a new Eurobond in the amount of 500-700 million euro ($578-810 million) by the end of October to provide funding for budget support and deficit financing, finance minister Delina Ibrahimaj said.
The government approved a decision that paves the way for the finance ministry to initiate a procedure for issuing Albania's fifth Eurobond, Ibrahimaj said in a video file posted on Facebook after a cabinet meeting on Wednesday.
In September, the finance ministry said it selected JP Morgan, Societe Generale, Banca IMI & Intesa Sanpaolo Bank Albania and OTP as joint lead managers for a planned Eurobond issue.
Albania's government issued a 650 million euro seven-year Eurobond with a coupon of 3.625% in June, 2020.
Prior to that, Albania issued a 500 million euro seven-year Eurobond with a coupon of 3.50% in 2018 and a 450 million euro five-year Eurobond carrying a coupon of 5.75% in 2015. The country's first 300 million euro Eurobond was issued in 2010 and carried a coupon rate of 7.5%.
($ = 0.86450 euro)