Macedonia postpones Eurobond issue until market stabilises.

By bne IntelliNews May 17, 2010
Macedonia decided to postpone the planned issue of Eurobond, initially scheduled for June, until the market becomes more stable, finance minister Zoran Stavreski said in an interview with Reuters. Stavreski confirmed that the results of the recent Eurobond roadshow were satisfactory. The finance ministry said that the Eurobond will be in the range of EUR 175-200mn. The country does not need to make the bond issue immediately, Stavreski said, adding that the investors need to be assured in the economic stability and pointed out that Macedonias GDP contracted by 0.7% y/y in 2009 and expected 2% y/y growth in 2010.The countrys public debt corresponded to 24% of GDP, Stavreski added.

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