Macedonia: bonds

The Republic of Macedonia, officially referred to by the United Nations and many countries as the Former Yugoslav Republic of Macedonia (FYROM), is an independent state on the Balkan peninsula in southeastern Europe. It is often called Macedonia, but this can cause confusion with the wider geographical region of Macedonia and the Greek region of Macedonia. The lands governed by the Republic of Macedonia were previously the southernmost part of Yugoslavia. Its current borders were fixed shortly after World War II when socialist Yugoslavia established the Socialist Republic of Macedonia, recognising the Macedonians as a separate nation within Yugoslavia. Renamed as the Republic of Macedonia in 1991, it seceded peacefully from Yugoslavia without any further territorial changes. However, since then the country has been embroiled in a prolonged political dispute with Greece concerning its use of the name "Macedonia". International organisations and many nations refer to the country as the Former Yugoslav Republic of Macedonia (FYROM), the term used in its admission to the United Nations, but many other countries recognise it under its constitutional name "Republic of Macedonia". The Republic of Macedonia encompasses only a part of the geographical region of Macedonia: the remainder is divided between neighbouring Greece (with about half of the total) and Bulgaria (with under a tenth).
Capital Skopje
Currency Macedonian Denar (MKD)
Time zone – in summer CET (UTC+1) CEST (UTC+2)
Internet TLD .mk
Calling Code 389

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
MKD 147 46 165 390 000
EUR 12 1 376 500 000

Sovereign rating

Rating AgencyRatingRating scaleDate
RIA Rating *** Sovereign ratings ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Macedonia, 5.625% 26jul2023, EUR - International bonds XS1452578591 5.625% 450 000 000  EUR 07/19/2016 07/26/2023
Macedonia, 4.875% 1dec2020, EUR - International bonds XS1318363766 4.875% 270 000 000  EUR 11/02/2015 12/01/2020
Macedonia, 3.975% 24jul2021, EUR - International bonds XS1087984164 3.975% 500 000 000  EUR 07/17/2014 07/24/2021

World Bond market statistics

Quarterly indices

Type IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015 II 2015
BIS volume of international-bond market of emerging countries
Macedonian international bonds, USD bln 1.300 1.400 0.900 0.900 0.800 0.700 0.700
BIS net issues of international-bond market of emerging countries
International-bond net issue of Macedonia, USD bln   0.500   0.000 0.100 0.000 0.000

Emerging Markets International Bonds

Monthly indices

Type Feb 2017 Jan 2017 Dec 2016 Nov 2016 Oct 2016 Sep 2016 Aug 2016
Eastern Europe International Bonds Markets
International bonds of Macedonia, USD bln 1.293 1.318 1.285 1.293 1.340 1.371 1.361
Sovereign international bonds of Macedonia, USD bln 1.293 1.318 1.285 1.293 1.340 1.371 1.361
Corporate international bonds of Macedonia, USD bln 0.000 0.000 0.000 0.000 0.000 0.000 0.000
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Currencies

Daily indices

Type: 03/22/2017 03/21/2017 03/20/2017 03/17/2017 03/16/2017 03/15/2017 03/14/2017
Exchange Rates (Emerging Markets)
USD/MKD 56.8696 56.9006 57.1861 57.1423 57.1473 57.4321 57.8684
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Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Macedonia, 3.975% 24jul2021, EUR   EUR 07/24/2021 05/18/2016 **.* *.** 05/18/2016 **.*** *.**
Macedonia, 4.875% 1dec2020, EUR   EUR 12/01/2020 05/18/2016 ***.** *.* 05/18/2016 ***.** *.**
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