Macedonia to issue seven-year benchmark euro-denominated bond

Wed Jul 16, 2014 4:26am EDT

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LONDON, July 16 (IFR) - The Republic of Macedonia is to issue a seven-year benchmark-sized euro-denominated bond, according to a lead.

The sovereign, rated BB-/BB+, is taking indications of interest and is expected to price the 144a/Reg S deal on Thursday.

Deutsche Bank and HSBC are the joint lead managers on the transaction.

The transaction would be Macedonia's first since 2005. On that occasion, the sovereign issued a debut 150m 10-year bond via sole bookrunner Citigroup. (Reporting By Abhinav Ramnarayan; editing by Sudip Roy)