Parliament approves Albania’s first-ever Eurobond issue.

By bne IntelliNews October 22, 2010
The parliament adopted a decision for issuing the first-ever government Eurobond emission, local Klan TV reported. JP Morgan and Deutsche Bank have already been selected to manage the issue. Authorities hoped to raise up to EUR 400mn from the deal with an interest of up to 8.5%. Part of the receipts will be used to refinance the syndicated loan granted by Deutsche Bank and Greek Alpha Bank in 2009 for financing of construction of 170km long Durres-Kukes motorway, finance minister Ridvan Bode. As noted, the government failed to issue the debt in a number of attempts, due to global finance turbulence and the debt crisis, which pushed interest rates to unacceptably high levels.

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