BANJA LUKA (Bosnia and Herzegovina), April 23 (SeeNews) – The Bosnian city of Banja Luka said on Monday it has raised 6.24 million marka ($3.9 million/3.2 million euro) via the sale of seven-year bonds for the purpose of financing five capital investment projects.
The city sold 60,000 bonds at 104 marka apiece, above the 100 marka asking price, with an effective interest rate of 3.39%, it said in a filing with the Banja Luka Stock Exchange.
The nominal interest rate is set at 4.5%, with coupon payments due semiannually.
Subscription and payment for the bonds took place on the Banja Luka Stock Exchange starting on April 11, and lasted for eight days.
The capital investment projects include the construction of a new bridge over the river Vrbas, road reconstruction and construction works, the reconstruction of a sports hall, and the continuation of a water supply project, the city said earlier.
Banja Luka is the largest city in the Serb Republic, one of the two entities that form Bosnia and Herzegovina. The other is the Federation.
(1 euro=1.95583 marka)