Albania successfully issues Eurobond / Denaj: 190 investors offered over 4 times the value we requested

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Albania has closed its fourth exit in the capital markets by successfully issuing a Eurobond worth 650 million euros, with a coupon of 3.5% and a trading interest rate of 3.625%. The Eurobond has a 7-year term.

The Minister of Finance and Economy, Anila Denaj during a joint press conference with Prime Minister Edi Rama and Minister of Reconstruction Arben Ahmetaj, stated that investor interest has been very high, with an offer of over 3 billion euros, with a coverage report of the needs of the Albanian Government over 4 times, clearly expressing the increased confidence of investors.

"There were 190 investors, who in international markets, in Europe and America and have offered over 4 times the value we requested," - said Denaj.

The funding provided by Eurobond, she said, will be used to finance priority projects, to refinance the Eurobond received in 2015, in the amount of 250 million euros, as well as to meet the financing needs for 2020.

"Despite the situation caused by COVID-19 and the emergency challenge of the 2019 earthquake, Albania managed to be maximally evaluated by investors."

According to Denaj, the experience of the two-day Roadshow confirmed once again not only the increased interest of foreign investors, but also their assessment of government reforms and fiscal consolidation achieved over the years, as well as the belief that this fiscal consolidation, beyond the plans of recovery, will be realized.

In this transaction Albania was assisted by JP Morgan, Citi Bank, IMI Bank and Raiffeisen Bank International AG, as well as two consultants, financial and legal. / ATA

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