November 21 (SeeNews) - Bosnian power utility Elektroprivreda HZHB [SAJ:JPEMR] said it will borrow two overdraft loans worth a total of 14 million marka ($7.3 million/7.2 million euro) from two local lenders - Raiffeisen Bank BiH [SAJ:RFSN] and ASA Banka Nasa i Snazna.
The power utility selected Raiffeisen Bank for a 10 million marka loan in a public call that attracted three offers, the company said in a statement posted on Bosnia's e-Procurement portal on Friday.
ASA Banka Nasa i Snazna was selected as the best bidder for a 4 million marka loan in a tender which had only one other offer.
Both loans have maturity of one year. Elektroprivreda HZHB did not disclose the purpose of the loans.
The company's shares last traded on the Sarajevo Stock Exchange on November 7, when they closed 9.68% lower at 28 marka.
Elektroprivreda HZHB, the smallest of the three Bosnian state-owned power utilities, is based in the country's Federation entity.
The largest power utility is Elektroprivreda BiH, also based in the Federation, which together with the Serb Republic entity forms Bosnia and Herzegovina. Elektroprivreda RS is the power utility of the Serb Republic.
(1 euro = 1.95583 marka)
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