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Bosnia's Bileca places 2.2 mln euro municipal bonds

Bosnia's Bileca places 2.2 mln euro municipal bonds Photo:

SARAJEVO (Bosnia and Herzegovina), August 16 (SeeNews) - The municipality of Bileca in Bosnia and Herzegovina said it has issued municipal bonds worth 4.3 million marka ($2.2 million/2.2 million euro).

Bileca issued 43,000 bonds of 100 marka in par value each, the municipality said in a filing to the Banja Luka Stock Exchange on Monday.

The bonds, which will mature in ten years, bear an annual interest rate of 4.20%, paid monthly, Bileca said in an earlier statement. The municipality will use the proceeds of the bond issue to repay old debt.

Bileca is located in the Serb Republic, one of two autonomous entities that form Bosnia and Herzegovina. The Federation is the other entity.

(1 euro = 1.95583 marka)