July 2, 2018 / 1:08 PM / 9 months ago

Albania sends request for proposal for euro bond

LONDON, July 2 (IFR) - The Republic of Albania has sent a request for proposals to banks for a euro bond offering.

The sovereign is aiming to raise up to €500m with a maturity from five to 10 years.

Albania is also intending to buy back “a fraction” of its outstanding 2020 note, according to the RFP document seen by IFR.

The deadline for proposals is July 10.

The debt placement is scheduled to take place in October, added a government source.

Albania is rated B1 by Moody’s and B+ by S&P.

It sold the €450m 5.75% 2020s in November 2015. The notes are bid at 109.48 to yield 1.62%, according to Tradeweb prices. (Reporting by Robert Hogg; editing by Sudip Roy and Julian Baker)

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