Andorra Launches Tender for €500M Public Debt Refinancing Advice
The government seeks advisory services to refinance €500 million in debt due in 2027, deciding on a new issuance programme or update to the existing.
Key Points
- Tender for advisory firm to assess new debt issuance or update to 2021 prospectus.
- Targets €500M tranche due 23 Feb 2027 within €1.2B ceiling.
- Existing issuances: €500M (2031), €175M (2041), €500M (2027).
- Contract value €236K; requires Luxembourg law continuity, open to international bidders.
The Andorran government has launched a tender process to secure advisory services for refinancing €500 million in public debt maturing on 23 February 2027.
The initiative, announced on Wednesday via the Official Bulletin of the Principality, seeks a firm to determine whether to launch a new international debt issuance programme or update the existing one. The chosen provider will also handle establishing a fresh issuance under that framework.
This effort targets the specific €500 million tranche issued as part of a broader base prospectus approved in April 2021. That document supports public debt emissions in international markets up to a €1.2 billion ceiling, aimed at refinancing earlier debts due in 2021 and 2022, as well as funding authorised new borrowing.
Under the programme, Andorra has already issued: - €500 million maturing in May 2031 - €175 million maturing in October 2041 - The €500 million portion now up for renewal in February 2027
The tender specifications emphasise continuity. Any new programme or update must retain Luxembourg law as the governing framework for the bonds and related agreements. The total limit for medium-term note programmes will stay at €1.2 billion, matching the authorised debt ceiling. The government intends to preserve the current programme's characteristics.
The contract, open to international bidders, carries an estimated value of €236,034.11, with a total bidding budget including IGI tax of €246,655.65.
Original Sources
This article was aggregated from the following Catalan-language sources: