March 6 (SeeNews) - Croatia's finance ministry said on Wednesday it has successfully issued a 10-year eurobond with a nominal value of 1.5 billion euro ($1.6 billion) on the international debt market, as investor demand exceeded 8.5 billion euro.
The annual coupon rate of the issue was set at 3.375%, with an achieved yield to maturity of 3.421%, the finance ministry said in a statement. The issue will mature in 2034.
Agents of the issue were Deutsche Bank, J.P. Morgan, Morgan Stanley and UniCredit’s Croatian unit Zagrebacka Banka.
The subscription was held on Tuesday. Some 180 investors showed interest in the issue from a number of countries including Germany, the UK, Austria, Switzerland, Denmark, Benelux, central and eastern Europe.
"The strong demand and the achieved final conditions of the issue are a strong confirmation of Croatia’s credibility as issuer on the international market, and of investor trust in the Croatian economy and public finances, particularly after the entry in the eurozone and Schengen, and the strong economic growth in 2023," the finance ministry said.
Croatia joined the eurozone and the European visa-free Schengen area in January 2023.
Croatia's economic output grew by a real 2.8% in 2023.
($ = 0.920 euro)