Montenegro sells €500mn 10-year Eurobond

Montenegro sells €500mn 10-year Eurobond
By bne IntelliNews September 28, 2019

Montenegro successfully placed a €500mn ten-year Eurobond issue on September 27 at an interest rate of 2.55%, the finance ministry said.

The Eurobond will be used to refinance public debt, which is expected to fall below 60% of GDP in 2022.

Montenegro has three euro-denominated bonds with shorter maturity: the first expires in March 2020, while the other two fall due in 2021 and 2025.

This is the bond with the longest maturity and the lowest yield so far, the ministry said in a statement.

“In this way, the investors have shown complete trust in the government’s continuous policy, the achieved results and the planned future activities in the field of macroeconomic and fiscal politics, sustaining financial stability and the completed and planned activities in the field of Euro-Atlantic integration,” the statement reads.

The demand for the issue totalled €1.8bn and 190 investors have shown interest in it.

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