April 30, 2014 / 1:52 PM / in 4 years

Montenegro mandates banks for potential euro bond

LONDON, April 30 (IFR) - The Republic of Montenegro has mandated banks to arrange a series of fixed income meetings ahead of a potential euro-denominated bond offering, according to a lead.

The sovereign, rated Ba3/BB-/NR, has appointed Citigroup, Deutsche Bank and Erste Group to arrange meetings across Europe commencing on May 6 and which finish on May 8.

A 144a/Reg S euro-denominated bond may follow, subject to market conditions.

In conjunction, the sovereign has also announced an exchange and tender offer for its outstanding 2015 and 2016 notes.

Montenegro was last in the bond market in December, when it raised 100m in three-year floating rate notes. (Reporting By Abhinav Ramnarayan; Editing by Sudip Roy)

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