July 14, 2016 / 9:16 AM / 3 years ago

Macedonia begins marketing seven-year euro bond at mid 5% area

LONDON, July 14 (IFR) - The Republic of Macedonia has started marketing a euro-denominated seven-year benchmark bond at an initial yield of mid 5% area, according to a lead.

The 144A/Reg S deal is today’s business. Citigroup (B&D), Deutsche Bank, Erste Group and SG CIB are the lead managers.

Macedonia is rated BB- (stable) by Standard & Poor’s and BB+ (negative) by Fitch.

Reporting by Sudip Roy, editing by Julian Baker

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