March 14 (SeeNews) - Croatia has successfully placed a 10-year bond worth 1.25 billion euro ($1.33 billion) on the international market on Monday, at a historically low yield of 3.19% and a coupon of 3.0%, the finance ministry said.
The order book was opened and closed within a day, but due to strong investor interest demand reached 3 billion euro, the ministry said in a statement late on Monday.
"This significant investor interest let us achieve the most favourable borrowing conditions to date", the ministry noted, adding that the yield was the lowest seen by Croatia since the country began issuing debt on international capital markets.
Demand for the bond was geographically widespread, and mostly came from the CEE region, Italy, the UK/Ireland, Austria, Germany, USA, Switzerland and the Benelux countries.
The transaction was handled by Citi, HSBC, Morgan Stanley and UniCredit.
The new 10-year eurobond is intended to refinance old bonds maturing in April and worth $1.5 billion.
($=0.939646 euro)