Macedonia mulls new Eurobond issue

By bne IntelliNews November 1, 2017

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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Uzbekistan’s key rate held at 14% as central bank points to fears over reacceleration of inflation

Uzbekistan's central bank on April 25 kept its benchmark interest rate on hold at 14%, pointing to risks that inflation could once more accelerate. Planned hikes of state-regulated prices for ... more

Ukraine's DTEK seeks $350mn to restore energy capacity after Russian attacks

Ukraine's leading private energy company, DTEK, has sounded the alarm, indicating an urgent need for $350mn to recuperate lost capacity resulting from Russia's relentless assaults on thermal power ... more

Kazakhstan can expect GDP growth of 3.1% this year and 5.6% next, says IMF

The International Monetary Fund (IMF) projects real GDP growth of 3.1% this year and 5.6% in 2025 for Kazakhstan in its newly released ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    9 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    6 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    4 days ago
  5. The models are wrong, climate change is accelerating faster than predicted
    1 day ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    27 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss