Albania expects to raise EUR 7.2 mn from Eurobond issue.

By bne IntelliNews November 1, 2010
Albania is expecting to raise some ALL 1bn (EUR 7.2mn)from the issue of the country's first ever EUROBOND, news agency Albania Daily news said. Major part of the bond proceeds will be used to refinance a 2009 syndicated loan extended by Deutsche Bank and Greek Alpha Bank for the financing of Durres-Kukes motorway construction, Finance Ministry Debt Director Xhentil Demiraj was quoted as saying. Albania placed successfully a EUR 300mn Eurobond issue last Thursday. The bonds have a five-year maturity and a fixed annual coupon of 7.5%. The remaining part of the receipts would be used to replace a part of the short-term loan taken in the domestic market.

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