Skopje, 27 September 2022 (MIA) - The Government has decided to issue securities on the German market, the Namensschuldverschreibungen (NSV) bond in the amount of EUR 250 million. The funds will be used for the repayment of old debts and financing budgetary needs, said the Ministry of Finance on Tuesday. The Finance Ministry says it has continually monitored the capital markets and assessed, through a comprehensive analysis, that the interest rate and maturity period of this instrument is the best option for the public debt portfolio. Namely, the interest amounts to 3.75 percent plus a 6-month Euribor, with a 3-year repayment period and an 18-month grade period. NSV is an instrument that is usually issued to high-quality clients with a stable investment credit rating, and the securities are purchased by German investors. Deutsche Bank has issued the NSV to Poland, Ireland, Belgium, Spain, with the instrument also issued by KfW, IBRD and EIB. The ministry adds that the Eurobond would have cost about eight percent if issued at this time and therefore sought another more favorable financing source.