You have 5 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Albania to issue Eurobond of up to 700 mln euro by end-Oct – fin min

Albania to issue Eurobond of up to 700 mln euro by end-Oct – fin min Budget, finance

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)

Compare