July 1 (SeeNews) - Croatia has sold tranches of two bond issues worth a combined 5.05 billion kuna ($750 million/668 million euro) on the domestic market on June 30, the finance ministry said on Wednesday.
The finance ministry issued a third tranche of its 2026 bond worth 2.46 billion kuna and a second tranche of the 2028 bond worth 2.59 billion kuna, it said in a statement.
The 2026 bond yielded 0.85% and the 2028 bond yielded 0.94%.
The joint arrangers of the debt sale were local lenders Erste&Steiermarkische Bank, OTP Banka, Privredna Banka Zagreb, Raiffeisenbank Austria and Zagrebacka Banka.
Earlier in June, the finance ministry issued on the international financial markets a 2 billion euro ($2.3 billion) eleven-year Eurobond carrying a coupon of 1.5%, with part of the proceeds to be used to repay a 1.25 billion dollar ten-year eurobond maturing in July, and the remainder being allocated to finance the stimulus measures for the coronavirus-hit economy.
In April, Croatia's finance minister Zdravko Maric said that the country will need some 65-70 billion kuna in the next three months to cover the cost of the government's anti-coronavirus economic stimulus measures.
Also in April, the government gave the green light to the finance ministry to make an additional borrowing of up to 24 billion kuna above the 26.9 billion kuna debt ceiling set in the 2020 budget bill in order to tackle the coronavirus crisis.
(1 euro = 7.56364 kuna)