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Bosnia's Modrica municipality opens books for 2 mln euro bond issue

Author Iskra Pavlova
Bosnia's Modrica municipality opens books for 2 mln euro bond issue Photo: www.fmf.gov.ba

SARAJEVO (Bosnia and Herzegovina), December 13 (SeeNews) - Bosnia's northern municipality of Modrica said on Friday it will open books on December 27 for a 4.0 million marka ($2.3 million/2.0 million euro) maiden bond issue.

Modrica plans to issue 40,000 bonds with a nominal value of 100 marka each, it said in a filing with the Banja Luka bourse.

The securities will mature in ten years and have an annual interest of 3.8%, the statement said.

Subscription will last one month and will close on January 27.

The issue's success threshold is set at 60%.

(1 euro = 1.95583 marka)

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