The state budget will be changing once again, for the fourth time this year, because the government will be increasing its spending by ALL 11.8 billion while estimating to receive a Eurobond valued at €500 million euros.
The normative act was published in the Official Gazette, whereas the Ministry of Finance is looking to work closely with a consultant regarding the Eurobond release. Apart from the European market, this year the state is said to be aiming for the United States stock market.
“The Ministry of Finance and Economy is asking for proposals from legal advisors, who will be giving legal assistance during the release of the fifth Eurobond. Firms should offer expertise in British law as well as the US federal law on securities,” said the document.
After the last release in 2020, of the Eurobond valued at 650 million euros, with a 7 year repayment period and 3.62% interest, this upcoming fifth Eurobond will be used partly for financing the needs of the state budget and the rest in order to pay for the previous Eurobond.
The forecast in terms of entering the international markets was 2022, but according to the ministry, it could happen within 2021.
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