TIRANA, December 30 /ATA/ The government is expected to go to the capital markets again in 2023 and ask for 500 million Euros.
The Ministry of Finance and Economy announced that it has selected the company “Dechert LLP” as the legal consultant for the issuance of the sixth Eurobond, which is expected in 2023.
According to the Ministry, the company “Dechert LLP” has expertise in English law and the law of the United States of America for securities.
Minister of Finance and Economy Delina Ibrahimaj has stated that the Eurobond issue will be made only if the market conditions are acceptable so that to realize a relatively successful Eurobond transaction in terms of value, interest rate , maturity and others.
According to Ibrahimaj, the issuance of the Eurobond does not condition the normality of the execution of the 2023 budget.
This is the sixth time that our country has turned to the international capital markets with the Eurobond instrument.
The first Eurobond was issued in 2010 (worth 300 million Euros, 5-year maturity and 7.5% interest) and was repaid in 2015. Subsequent Eurobonds that are still active (not fully repaid) are:
The Eurobond issued in 2015 (with a 5-year maturity), in the amount of 450 million Euros and with an interest rate of 4.75%, the Eurobond issued in 2018, in the amount of 500 million Euros, with a maturity of 7- annual and interest rate 3.5 %. Albania closed in mid-November 2021 its fifth exit to the capital markets, the Eurobond of 650 million Euros with a coupon of 3.50% with 3.75% interest.
During successive issuances, Albania has been successful, enabling issuances at lower and lower costs, due to increased credibility in the eyes of investors./p.s./
