The Republic of Macedonia took advantage of both the scarcity of debut sovereign issues and the European Commission’s assessment in November that it should be granted EU candidate status to attract big demand for its first Eurobond.
Investors from across Europe, the US and Asia put in bids totalling €593 million for the €150 million issue, with British investors taking the bulk of the deal at 33%, closely followed by German accounts at 31%.
The 10-year bond pays a coupon of 4.625%. “The coupon level is evidence that Macedonia has done most of...
