Finance Ministry names five winning banks to lead the 500 million euro eurobond borrowing procedure

bankat 1280x720 1 1100x620

The winning companies for the 500 million euro Eurobond issuance this year have been revealed by the Ministry of Finance and Economy.

The debt issuing procedure will be led by five selected institutions. These will be “JP Morgan” from the United States, “Intesa Sanpaolo” from Italy, “Deutsche Bank” with German capital, “Standard Chartered” from the United Kingdom, and “MUFG Bank” from Japan.

The Ministry of Finances clarifies that the management banks, who will lead the process, will be in charge of issuing Eurobonds on capital markets.

They will also be in charge of transaction preparation and recommendations, as well as marketing strategy and distribution.

Formerly, the Ministry of Finance chose the worldwide legal network “Dechert LLP” based in Philadelphia to give legal counsel in market entry for capital raising from overseas investors.

Albania is borrowing in international markets for the sixth time since 2010. Eurobonds have a total value of 1.8 billion euros so far, and with the predicted amount, the total will climb to 2.3 billion euros.

The Eurobond that will be issued in the coming months will include an option for the government to buy back a portion if interest rates in the market fall or the country’s ability to pay improves.