Macedonia raises EUR500mn

Macedonia raises EUR500mn

Published: July 22, 2014

EUR1.16bn order book allows republic to borrow with its lowest yield yet.

The Republic of Macedonia has issued its third eurobond, securing €500mn (US$675mn).

The sovereign sold the seven-year bonds with a 4.25% yield, the lowest it has achieved, after closing the order book at €1.16bn.

Part of the proceeds will be used to pay down the republic’s debut eurobond, issued in 2005 to raise €150mn.

Deutsche Bank and HSBC ran the latest deal.