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Bosnia's Banovici invites offers for 2 mln euro loan - report

Bosnia's Banovici invites offers for 2 mln euro loan - report Author: RMU Banovici. Licence: All rights reserved.

SARAJEVO (Bosnia and Herzegovina), July 14 (SeeNews) - Bosnian coal mining company Banovici [SAJ:RMUBR] launched a public call for a 4 million marka ($2.4 million/2 million euro) loan to finance investment purchases and liquidity needs, local media reported on Wednesday.

Banovici plans to take out a loan with a five-year term at a fixed interest rate, offering blank bills of exchange, equipment and land as collateral, news portal eKapija.com reported.

The estimated value of the planned purchases is 435,000 marka, VAT excluded, according to the report.

The deadline for submitting loan offers is July 29.

The government of Bosnia's Federation entity owns a 69.5% stake in Banovici, according to the most recent data published by the Sarajevo Stock Exchange.

The Federation is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.

(1 euro = 1.95583 marka)

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