SARAJEVO (Bosnia and Herzegovina), August 1 (SeeNews) - Bosnia and Herzegovina's municipality of Istocni Stari Grad said it is inviting potential investors to subscribe its planned 1.8 million marka ($943,900/920,300 euro) municipal bond issue.
Istocni Stari Grad is offering 18,000 bonds of 100 marka in par value each, which will mature in ten years, the municipality said in a filing to the Banja Luka Stock Exchange on Friday.
The bonds bear an annual interest rate of 4.20%, paid semi-annually.
The offering will be available for subscription for a period of 30 days starting August 8. The bond issuance will be considered successful if at least 60% of the offering is subscribed.
Istocni Stari Grad is located in Istocno Sarajevo city 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)