September 16 (SeeNews) - Bosnian microloan provider Pro Fin said on Thursday it plans to issue 1.8 million marka ($1.1 million/920,000 euro) worth of fixed-rate three-year notes, three months after raising 1.6 million marka from a three-year notes issue.
The new financing round is aimed at strengthening the loan portfolio and the issuer's position in the market of micro lending and financial services, as well as meeting the needs of large clients, Pro Fin said in a bourse filing.
The debt paper will carry an annual interest rate of 7.50%, with interest payments to be made monthly.
The company will offer to investors 18,000 notes at a price of 100 marka each.
Pro Fin issued 1.6 million marka worth of fixed-rate three-year notes, in line with its target, in June. The securities carry an annual interest rate of 8%.
Pro Fin, established in 2017, offers microloans to entrepreneurs and small companies.
(1 euro = 1.95583 marka)