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Southeast Europe
November 9, 2018 www.intellinews.com I Page 15
In June 2017, at the previous EUR-denominated eurobond auction, Turkey borrowed €1bn through a EUR-denominated bond due June 2025. The bond had a coupon rate of 3.25% and a yield to investor of 3.337% while the spread over MS stood at 285bp.
Also this week, Kazakhstan sold a dual tranche transaction consisting of €525mn of a 1.55% eu- robond due in November 2023 and €525mn of a 2.375% bond due November 2028. The combined order books exceeded €3.3bn compared to the €1.05bn allocation.
Kazakhstan’s foreign currency debt ratings are BBB with a stable outlook from Fitch, BBB- (sta- ble) from S&P and Baa3 (stable) from Moody’s.
Last month, the Turkish treasury raised $2bn from a USD-denominated eurobond due Decem- ber 2023 with a coupon rate of 7.25% and a yield to the investor of 7.50%, better than initial expec- tations for 7.75%.
The spread over US bonds reached 447.5bp at the auction, marking a jump from 336.8bp in the April auction and 266.7bp in the January auction.
In April, the Treasury issued $2bn worth of 10- year eurobonds at an annual cost of 6.20% against three-times-higher demand. In January, the Treasury raised $2bn via 10-year bonds but at
the lower cost of 5.20%.
Serbia, Romania, Bulgaria and Greece plan joint bid to host 2030 World Cup
Carmen Simion in Bucharest
Serbia, Romania, Bulgaria and Greece are considering submitting a joint bid to host the 2030 FIFA World Cup.
No Balkan country has hosted a World Cup so far and in the wider Eastern Europe region, only Russia has been a host country for the world’s most viewed sporting event, though Poland and Ukraine jointly hosted the Euro 2012 football championship.
The idea of hosting the football World Cup was raised by Greek Prime Minister Alexis Tsipras and was agreed with the Romanian and Bulgarian premiers, Viorica Dancila and Boyko Borissov, Serbian President Aleksandar Vucic told journalists, N1 reported on November 2.
Several other multi-country bids are expected. So far, a joint bid from Argentina, Uruguay and
Paraguay has been. Also, the football associations of England, Scotland, Wales, Northern Ireland and Ireland are considering putting forward a proposal to host the 2030 World Cup, according to the BBC. Another bid could be filed jointly by Morocco, Algeria and Tunisia.
Should the Balkan 4’s bid be successful, the event would be beneficial to the economies of the countries, forcing them to improve their infrastructure and bringing a large number of tourists to the Balkans.
Existing stadiums and transport infrastructure in Romania, Bulgaria and Serbia lags behind those of other European countries. Romania, Greece and Bulgaria are EU member states, while Serbia, a candidate country, hopes to join the block by 2025.
“We are grateful to these countries for the