English

Details of latest govt borrowing: Brits, Germans and Americans bought most bonds

Vlada Crne Gore

The Ministry of Finance and Social Welfare, run by Mr Milojko Spajić, has finally disclosed the details of issuing bonds on the international market, based on which Montenegro borrowed €750 million. The interest rate amounts to 2.875 percent, while the maturity date is seven years, Dnevne Novine daily reports.

BONDS

When it comes to the structure of investors, in terms of the region they come from, the most represented are investors from Great Britain (22 percent), Germany (13 percent), the United States (13 percent), Central and Eastern European countries (11 percent), the rest of Europe (37 percent) and Montenegro (2.3 percent).

COMMISSION FEE

The Ministry of Finance has also revealed details of the commission fee for the successful issuance of bonds on the international market.

The document suggests that Linklejters company was engaged as a legal consultant in the bond issuance. The contract defined a €125.000 reimbursement for doing this job, no tax and fees included. Of this amount, €100.000 represented a basic fee paid to Linklejters, while €25.000 was a fee for a job completed successfully. Finance and Social Welfare Minister, Mr Milojko Spajić, signed a contract with Linklejters on behalf of Montenegro, while Mr Jaroslav Aleksejev signed it on behalf of the company.

KONJEVIĆ: NEW GOVERNMENT AND DPS JOINTLY PREPARED BORROWING

It’s evident that the new government and the DPS were jointly preparing the €750 million borrowing, the SDP MP, Mr Raško Konjević, stated.

He noted that he got a part of the material on borrowing that fall under the competence of the Ministry of Finance but still haven’t got materials from the government.

 

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