September 27 (SeeNews) - North Macedonia's government decided to issue securities on the German market, a bond known as Namensschuldverschreibungen (NSV), in the amount of 250 million euro ($241 million), the finance ministry said on Tuesday.
The raised funds will be used to repay maturing debt and finance budget needs, the finance ministry said in a press release.
The bond has a term of three years, an 18-month grace period, and a coupon of six-month EURIBOR plus 3.75%.
The instrument with its interest rate and maturity period is the most suitable option for the public debt portfolio, the finance ministry noted, adding that NSV is a debt instrument typically issued by reputable clients with a solid investment credit rating, and the securities are purchased by German investors.
($ =1.03715 euro)