Dechert LLP is the name of the company chosen by the Albanian government to provide legal counseling for the emission of the fifth Eurobond. The Ministry of Finance announced that the company made the best bid, but did not mention which were the other competing companies.

Dechert, with expertise in British and American law, will have to guarantee favorable conditions and low interests for the debt and will be paid circa €185,000.

Founded in Philadelphia and with international experience, the company has handled complex trials and offered counseling in 23 states. To fulfill the second criteria, the finance ministry has also set forth proposals in order to find the bank that will lead the Eurobond emission process.

The government announced that by mid-June it will ask for €500 million in the capital market with the aim of paying off its previous Eurobond as well as cover a chunk of the state budget necessities.

Albania has entered the capital market four times, from 2010 when it borrowed at an interest rate of 7.5% and until 2020 when it borrowed €650 million at an interest rate of 3.5%.

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