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Albania plans Eurobond issue next year -finance minister
April 14, 2014 / 3:10 PM / 4 years ago

Albania plans Eurobond issue next year -finance minister

* Albania gets boost from revised S&P outlook

* Clinched IMF loan deal in February

TIRANA, April 14 (Reuters) - Albania will tap international markets next year when its five-year Eurobond matures, Finance Minister Shkelqim Cani said in comments published on Monday.

Ratings agency Standard & Poor’s raised Albania’s outlook to stable from negative last week and affirmed its B credit rating following the Balkan country’s new 331 million euro ($460 million) loan deal with the International Monetary Fund, agreed in February.

“Understandably, next year we shall go to the international markets for real because the Eurobond matures next year,” Cani told the Albanian-language service of Voice of America in Washington.

“... and understandably (we) cannot enter the international markets without being prepared, so Standard & Poor’s statement is a confirmation that we are improving the indicators related to borrowing on international markets,” he said.

Albania borrowed 300 million euros in its debut Eurobond in October 2010 at a rate of 7.5 percent.

A senior finance official told a background briefing that the ministry was looking at options for the Eurobond, including whether to borrow in dollars. ($1 = 0.7201 euros) (Reporting By Benet Koleka; Editing by Matt Robinson and Susan Fenton)

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