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North Macedonia issues EUR 700 mln Eurobond at 3.675 pct interest rate

North Macedonia issued its seventh Eurobond in the amount of EUR 700 million. The Eurobond maturity term is six years, whereas its interest rate is 3.675%, which is the second lowest interest rate right after the Eurobond issued in 2018.  

Skopje, 27 May 2020 (MIA) – North Macedonia issued its seventh Eurobond in the amount of EUR 700 million. The Eurobond maturity term is six years, whereas its interest rate is 3.675%, which is the second lowest interest rate right after the Eurobond issued in 2018.

According to the Ministry of Finance, this shows investors’ trust in the Macedonian economy and policies, given that this Eurobond is issued in the time of the COVID-19 crisis – the largest economic crisis after the Great Depression. 

“This is a result of the macroeconomic and financial stability, as well as our commitment and success in the Euro-Atlantic integration in recent years,” the Finance Ministry said.

Issuing the Eurobond and the EUR 176 million loan from the International Monetary Fund, as well as the EUR 140 million loan from the World Bank and the EUR 160 million loan from the European Union which are being negotiated and are certain, wraps up the financial construction for 2020.

In addition, security funds are provided to deal with a possible recurrent shock, and depending on how events unfold, partial funding for next year.

The country issued its first Eurobond in 2005, followed by Eurobonds issued in 2009, 2014, 2015, 2016, 2018, and now in 2020.

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