Published on 11/19/2021 in the Prospect News Emerging Markets Daily.
New Issue: Albania prices €650 million 3½% 10-year senior notes to yield 3¾%
By Rebecca Melvin
Concord, N.H., Nov. 19 – The Republic of Albania, through its Minister of Finance and Economy, priced €650 million of 3½% senior notes due 2031 (B1/B+) at 97.947 to yield 3¾%, or a spread over mid-swaps of 357.4 basis points, according to a pricing term sheet.
The Rule 144A and Regulation S notes were talked to yield 3¾% to 4%.
J.P. Morgan Securities plc, IMI-Intesa Sanpaolo SpA, London Branch, OTP Bank Nyrt. and Societe Generale are the joint lead managers.
The notes will be listed on the London Stock Exchange.
| Issuer: | Republic of Albania
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| Amount: | €650 million
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| Issue: | Senior notes
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| Maturity: | Nov. 23, 2031
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| Bookrunners: | J.P. Morgan Securities plc, IMI-Intesa Sanpaolo SpA, London Branch, OTP Bank Nyrt. and Societe Generale
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| Coupon: | 3½%
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| Price: | 97.947
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| Yield: | 3¾%
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| Spread: | Mid-swaps plus 357.4 bps
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| Trade date: | Nov. 18
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| Settlement date: | Nov. 23
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| Ratings: | Moody’s: B1
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| S&P: B+
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | 3¾%-4%
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| ISINs: | XS2406936828, XS2406936075
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