Albania plans to issue 600 mln euro bond

TIRANA (Albania), January 29 (SeeNews) – Albania’s finance ministry said it intends to issue a Eurobond of up to 600 million euro ($660.9 million) with a maturity from 7 to 10 years on the international markets later this year.
The proceeds will be used to cover the government financing needs and manage proactively debt liabilities, the ministry said in a statement late on Monday.
“This transaction is consistent with the medium term debt management strategy of the government to adequately finance the budget at the least cost and a prudent level of risk,” the ministry noted.
The ministry also said it is inviting bids for joint lead managers. The deadline for submitting proposals is February 5.
In 2015, Albania issued a 500 million euro seven-year Eurobond with a coupon of 3.50%, down from 5.75% on its five-year Eurobond issued in 2015.