- Friday, January 12, 2018 9:59 AM
Skopje, 12 January 2018 (MIA) - Macedonia on Thursday issued a EUR-500 million Eurobond on the international market, with a maturity period of seven years and the lowest interest rate thus far of 2.75%, the Ministry of Finance said in a press release.
This is the lowest interest rate achieved for any of Macedonia's Eurobonds, reflecting the extremly high confidence among international investors in the perspectives of the country's economy, as well as the favorable conditions on the international capital markets. For comparison, the interest rates of the previously issued five Eurobonds range between 3.975% and 9.875%, the press release reads.
The investors' demand reached more than EUR 3. billion, namely over 7 times higher than the offer, which is a strong indicator of investors' confidence in the country's stability and rather positive perspectives of its economy. It led to setting the coupon rate at 3.00%, i.e. the annual interest rate at 2.75%, the lowest one since Macedonia has been issuing Eurobonds on the international capital market.
The assets will be used for budget needs and servicing of some due debts.
Tomorrow, Finance Minister Dragan Tevdovski will hold a press conference on the launch of Macedonia's sixth Eurobond. lk/09:58
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