February 12 (SeeNews) - North Macedonia issued 11.5 million euro ($13.9 million) worth of denationalisation bonds - government securities intended to compensate former real estate owners for their property nationalised in the period 1944-1991, the finance ministry said.
The bonds have a maturity of ten years and bear an interest of 2%, paid annually, the finance ministry said in a statement on Thursday.
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The bonds will start trading on the Macedonian Stock Exchange (MSE) on February 15, the bourse said in a separate notice.
The new bond issue will cover 800 decisions to pay compensation which became effective from January 1, 2019 to December 31, 2019, the government said earlier.
North Macedonia has been issuing denationalisation bonds since 2002 as compensation to citizens for their nationalised property. The bonds can be used to buy shares in state-owned companies.
($ = 0.8257 euro)