The Macedonian Ministry of Finance said on November 1 that no decision has yet been made on issuing a new Eurobond, even though international media reported that such a move is likely in the first quarter of next year.
The last euro-denominated bond issue took place in July 2016, when Macedonia placed a seven-year €450mn Eurobond to finance the budget gap for 2016 and 2017.
“The ministry has regular communication with international banks and potential investors to take strategically correct decisions for the future ways of financing, depending on conditions,” the finance ministry said in a short statement sent to bne IntelliNews.
However, the ministry added that the government has not yet made any decision to issue bonds on the international capital market.
Reuters reported on November 1, quoting its sources, that the Macedonian authorities had sent a request for proposal for a new Eurobond to banks, and that Skopje is targeting an issue in the first quarter of 2018.
One of the sources said Macedonia is also interested in exploring a possible liability management exercise, Reuters reported.
Macedonia is rated BB-/stable by Standard & Poor’s and BB/negative by Fitch.
According to the latest data, Macedonia's external public debt fell 2.5% q/q to €3.174.bn at end-September and was down 3.4% compared to end-2016.
Related Articles
Kazakhstan’s Freedom fintech sets out to emulate and exceed Revolut in Europe
Freedom Holding Corp (Nasdaq: FRHC) is positioning itself to expand deeper into Europe’s financial services market with plans to launch a digital bank in France, backed by a €500mn ($572mn) ... more
Fintech Freedom Holding aims to make France key entry point into EU with €500mn investment
A French banking licence would open the way to a new phase in the international expansion of Nasdaq-listed fintech group Freedom Holding Corp. That’s the expectation of Freedom, a company ... more
Net income at Freedom Holding Corp more than doubles in fiscal 2026
Freedom Holding Corp (Nasdaq: FRHC) slightly more than doubled its net income to $153.3mn in its fiscal year to March 31 from from $76.2mn in the previous fiscal 12 months, the international ... more