July 19 (SeeNews) - Bosnian company Olympic Centre Jahorina said it plans to sell 15-year fixed-rate bonds through public offering, in order to raise 7 million marka ($4.0 million/3.6 million euro) to finance the construction of a gondola lift in the Jahorina ski resort.
OC Jahorina proposes to issue 7 million bonds of 1 marka in par value each carrying an annual coupon of 4%, it said in a draft decision to be put to the vote at an extraordinary shareholders' meeting on August 5, the company said in a statement on Thursday.
Interest payments will be made annually, while principal on the issue will be paid in 12 equal instalments from the third year onwards until maturity.
The proceeds from the issue will also be used to give employment to several people for minimum 20 years, as well as for maintenance of the gondola lift.
Jahorina is a mountain in Bosnia and Herzegovina located near Pale, in the Serb Republic.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 195583 marka)