June 5 (SeeNews) - Albanian non-banking financial institution NOA's bond issue worth 500 million leks ($4.9 million/4.6 million euro) is already fully subscribed, more than two weeks ahead of the deadline, the company’s CEO Herjola Spahiu told local media.
“In terms of volume, most of the bondholders are institutional investors, such as banks or investment funds,” Spahiu told local news provider A2 last week, as seen in a Youtube video.
The issue, which is aimed at private companies and individuals - the first of this kind by a corporate in the country - carries a fixed coupon of 8% due semi-annually, NOA said earlier. The bonds will be issued on June 23, 2023 and will mature on June 23, 2028. Albania’s Credins Bank is the underwriter. The bonds will be listed for trading on the Albanian Securities Exchange (ALSE).
NOA was established in 1998 by the United States Agency for International Development (USAID) to help Albanian entrepreneurs develop their businesses. It disburses around 30 million euro each year, according to data published on its website.
(1 euro = 108.073 leks)