January 3 (SeeNews) - Bosnia's northern municipality of Modrica said it has sold out a 4.0 million marka ($2.3 million/2.0 million euro) maiden bond issue.
Modrica sold all 40,000 bonds it planned to issue at a price equivalent to 105.10% of par, it said in a filing with the Banja Luka bourse earlier this week.
The nominal value of the ten-year securities is 100 marka apiece. The annual coupon of the issue is 3.80%, while the effective interest rate is 2.77%, the statement said.
The bond sale, which was carried out via a Banja Luka bourse auction on December 30, attracted bids worth 8.3 million marka, it added.
(1 euro = 1.95583 marka)