North Macedonia has launched the process of issuing a six-year Eurobond to cover budget gaps for 2020 and 2021, local media reported on May 27.
The government previously said that the maximum amount of the Eurobond will be €800mn.
The maximum interest rate of the new Eurobond is set at 4.5%. The process is expected to be completed on June 3, Faktor.mk reported.
Citigroup, Deutsche Bank, Erste Group and J.P. Morgan have been mandated to arrange the process.
According to Faktor, Finance Minister Nina Angelovska and governor of the central bank Anita Angelovska Bezoska held a video presentation with the interested investors instead of organizing standard road show before the issuance of the Eurobond.
North Macedonia is rated BB- with stable outlook by Standard & Poor's and BB+ with negative outlook by Fitch Ratings.
North Macedonia’s finance ministry expects the budget revenues in 2020 to drop by 20% to 40% from a year earlier, according to its three scenarios drawn up in light of the coronavirus crisis.
Related Articles
Financial Stability Board publishes recommendations on nonbank leverage risks
Global regulator, the Financial Stability Board, published final policy recommendations to address financial stability risks from nonbank financial intermediation leverage, giving authorities ... more
Non-performing loans hit historic low in CESEE, but early warning signs emerge, says EBRD
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
Most Read
-
Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
15 days ago
-
Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
10 months ago
-
Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
3 years ago