Tirana Bank announced the issuance of Euro 5 million long-term corporate bonds. The underlying bonds have a 7-year term and carry a fixed interest rate of 3.30% per annum, payable semi-annually. The funds raised from the issuance of the bonds will enhance the supplementary capital of the Bank, in accordance with the applicable laws and the approvals from the regulatory authorities.
Chief Financial Officer of Tirana Bank, Elvira Kapoli stated: “We are pleased to announce the successful completion of our Bank’s first corporate bonds issuing. It was well-received by the investment community and completed on favorable terms, demonstrating the financial strength of our Bank and the strong loyalty of our customers. It is in our vision to enhance the financial support for our clients and the local economy as well as the consistent implementation of our sustainable growth strategy.”

The bond represents one of the largest single issuance of such debt in the local marketplace that was fully subscribed by retail and high net-worth customers. There was greater subscription demand than the initial bond offering confirming the investors’ confidence in Tirana Bank and Balfin Group to make long-term investments, even in challenging times.

Source: Monitor Magazine

TIRANA (Albania), April 13 (SeeNews) – Albania’s finance ministry sold 3 billion leks ($29 million/24.4 million euro) worth of three-year Treasury notes at an auction on April 12, data by the country’s central bank showed.

The coupon on the issue was set at 2.80%, unchanged compared with the previous auction of three-year government securities held in February, according to figures published by the finance ministry.

The new issue of government securities will mature on February 23, 2024.

Details follow:

Auction date April 12 February 19
Amount offered (bln leks) 3 4
Amount sold (bln leks) 3 4
Total bids placed (bln leks) 5.6 4.49
Bid-to-cover ratio 1.87 1.12
Maximum requested yield 3.34% 3.30%
Minimum requested yield 2.79% 2.70%
Coupon 2.80% 2.80%

Source: SeeNews

The Executive Board of the Albanian Chamber of Commerce (AmCham) approved in its meeting of March 30th, 2021 the request of the Albanian Securities Exchange (ALSE) to become an Associated Member to this important organism in the field of lobbing and business interest protection in Albania.

Albanian Securities Exchange is the only domestic regulated market, licensed since 2017 by the Albanian Financial Supervisory Authority, the main activity of which is to match the supply and demand for long term capital in Albania. It will in provide business in general as well as large corporates in particular, with a serious and cheap way of rising capital and financing their activity through the stock exchange listing.

Albanian Chamber of Commerce is a business organization which operates for 20 years and has a good reputation among business community, due to the work and collaboration with its members. AmCham is in a continuous contact with its members and works hard to identify and address their problems as well as to make the necessary recommendation to the public institutions and the Albanian Government. Likewise, AmCham is very active in the lobbing process related to fiscal issues and new legislation regulating the business activity. In this way, AmCham is not only a strong advocate for its business members, but also a factor in the regulative process of the market economy as well as improving business environment in Albania.

Through its membership to AmCham, the Albanian Securities Exchange aims to come closer to the corporates which fulfill the criteria for listing on the stock exchange. As part of AmCham’s yearly activity to provide professional trainings for its members, ALSE shall organize business meetings to inform corporates on the chances offered by capital market to finance their business in long term basis, as well as shall provide technical assistance to make this process easier for domestic large corporates.

Albanian Securities Exchange (ALSE) has the pleasure to inform you on the publication of the quarterly Statistical Report for the period January – March 2021 (Q1-2021).

For detailed information on the report, please click here

The Minister of Finance and Economy, Anila Denaj, and the Governor of the Bank of Albania, Gent Sejko, held a virtual meeting with Anna Bjerde, Vice President of the World Bank for the Europe and Central Asia Region.

According to the announcement during this meeting, Minister Denaj, has made a summary of all measures taken by the Government to cope with the two crises that the Albanian economy went through, such as the 2019 earthquake and the Covid-19 pandemic.

“Anna Bjerde expressed the World Bank’s support for Albania’s efforts for a comprehensive and sustainable economy and a better life for all,” the statement said.

Referring to the information published by the Ministry of Finance, the two sides shared the common opinion on the support for the blue economy initiatives, as well as the wider World Bank program in the country.

Source: SCAN

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