Montenegro places EUR 180mn Eurobond issue.

By bne IntelliNews April 4, 2011
Montenegro placed successfully a EUR 180mn Eurobond issue, the finance ministry announced. The issue enjoyed high interest as the demand exceeded the offered amount over twofold. Some 67 investors from 21 different countries became bondholders. The bonds mature in five years and have a fixed annual coupon of 7.25%. The government had earlier selected JP Morgan and HSBC as lead managers in the planned issue. Legal advisor was London-based company Linklaters LLP. We note that this is the second Eurobond issue placed by the country. The previous one totalled EUR 200mn and was placed in September 2010. It was also with a five-year maturity and its coupon was 7.875%.

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