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Estonia’s latest eurobond issuance attracts newcomers

While market conditions were fragile in 2022, the republic found a good window in October to launch its second sovereign bond in two years. Shanny Basar reports.
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Estonia’s latest eurobond issuance attracts newcomersSven Kirsipuu, deputy secretary-general, Estonian Ministry of Finance.

Estonia issued its first eurobond 20 years ago, raising €100m. At the beginning of 2011, the country switched its currency to the euro and it remained the only eurozone member without an outstanding government bond until 2020, when it raised €1.5bn after government finances were affected by the Covid-19 pandemic.

The Estonian government did not wait another 18 years to return to international capital markets. In October 2022, it raised another €1bn from a 10-year sovereign bond issue.

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