Macedonia issues seven-year Eurobond worth 500 mln euros

SKOPJE, Jan. 12 (Xinhua) -- The Macedonian government announced Friday it issued another Eurobond in the international market through which it will borrow 500 million euros (606.8 million U.S. dollars).

Finance Minister Dragan Tevdovski told a press conference that the loan's maturity was 7 years and the interest rate is 2.75 percent.

This is the lowest interest rate achieved for any of Macedonia's Eurobonds, reflecting the extremely high confidence among international investors in the perspectives of the country's economy, as well as the favorable conditions on the international capital markets, said the minister.

Referring to official records, the interest rates of the previously issued five Eurobonds ranged between 3.975 percent and 9.875 percent.

The investors' demand reached more than 3 billion euros, 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, according to a press release of the Finance Ministry.

Meanwhile, Tevdovski told reporters that incomes from the Eurobond would be used to cover budget deficit and pay for other loans. (1 euro = 1.21 U.S. dollars) Enditem