Estonia plans to borrow an additional €500 million to cover the budget deficit and on Monday announced a new issue of government bonds maturing in January 2034.
“The state budget is planned with a deficit for this and the coming years, and the state is borrowing to finance it. The current situation in the capital markets is relatively favorable, and we expect relatively strong international interest in the issuance,” said Janno Luurmees, head of the State Treasury Department.
Estonia last issued long-term bonds on the international capital market in January 2024.
Since 2020, three long-term international bonds have been issued, totaling €4 billion.
The bond issuance is being arranged by Erste Group, J.P. Morgan, and Societe Generale. The issuance will take place in the coming days, provided market conditions allow.
Read more: ERR.EE
