North Macedonia starts process of issuing six-year Eurobond

By bne IntelliNews May 27, 2020

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.

Read in IntelliNews Pro

Get IntelliNews Pro

Related Articles

North Macedonia’s ex-chief special prosecutor sentenced to 7 years in prison in Extortion case

A court in Skopje sentenced North Macedonia’s ex-chief special prosecutor Katica Janeva to seven years in prison on June 18 for abuse of office in a high-profile extortion case, while the first ... more

Skopje hospital staff reinforced as number of coronavirus cases continues to rise

Over 50 doctors and nurses were brought to Skopje hospitals from other towns in North Macedonia or other health facilities in the capital to help the medical staff coping with the increased number of ... more

North Macedonia reports spike in new coronavirus cases

The number of new coronavirus (COVID-19) cases in North Macedonia increased drastically in the last few days, with 89 new cases confirmed on June 1 alone and several government ... more

Dismiss