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Croatia places bonds worth 11 bln kuna (1.5 bln euro) on domestic market

Author Iskra Pavlova
Croatia places bonds worth 11 bln kuna (1.5 bln euro) on domestic market Photo: Croatian government

ZAGREB (Croatia), November 22 (SeeNews) - Croatia sold bonds worth 11 billion kuna ($1.6 billion/1.5 billion euro) on the domestic market, raising funding to refinance debt maturing on November 29, prime minister Andrej Plenkovic said on Friday.

"The finance ministry succeeded in refinancing this bond at the most favourable borrowing terms in history," Plenkovic said at the opening of the regular weekly cabinet meeting, which is streamed online on the government's website.

Two bond issues were placed, one worth 3.5 billion kuna and maturing in 2024 , and another worth 7.5 billion kuna and maturing in 2034, Plenkovic also said.

The bonds were sold at a 0.25% interest rate, yielding 0.36%, he added.

Plenkovic commented that thanks to the new borrowing 340 million kuna will be saved in interest payments annually.

The issue arrangers included Erste, Privredna Banka, Raiffeisenbank and Zagrebacka Banka.

(1 euro = 7.43758 kuna)

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