Key facts
- North Macedonia's parliament approved a EUR 260 million syndicated loan.
- The loan will be sourced from five foreign banks.
- It will be disbursed in a single tranche.
- The loan has a seven-year maturity and a three-year grace period.
- The interest rate is a variable six-month EURIBOR plus 2.1%.
Lawmakers in North Macedonia have given their approval for the country to secure a syndicated loan totaling EUR 260 million from a consortium of five international banks. This financial arrangement is structured to be disbursed in a single tranche and carries a maturity period of seven years, inclusive of a three-year grace period. The loan's interest rate is set at a variable rate, pegged to the six-month EURIBOR plus a spread of 2.1%. This rate is noted to be lower than the yields typically associated with the country's sovereign bonds. The proceeds from this loan are earmarked for general budget requirements and the repayment of existing maturing financial obligations.