PODGORICA (Montenegro), September 27 (SeeNews) - Montenegro raised 500 million euro ($546 million) by placing a ten-year Treasury notes issue on the international financial markets on September 26 , the country's finance ministry said on Friday.
The securities were sold at an average yield of 2.55%, with investor demand reaching 1.8 billion euro, the finance ministry said in an e-mailed statement.
About 190 investors from the United Kingdom, Europe, the United States and Asia participated in the transaction, it added.
The proceeds of the issue will be used to refinance public debt, which is expected to fall below 60% of gross domestic product (GDP) in 2022, finance ministry Darko Radunovic said earlier this month.
($ = 0.91565 euro)