July 22 (SeeNews) - Croatian pharmaceuticals producer Jadran Galenski Laboratorij (JGL) said it will borrow 600 million rubles ($8.1 million/6.9 million euro) from local lender Zagrebacka Banka (ZABA) to minimize exchange rate risk and secure cash flow.
The contract for a loan with a six-month tenor was signed on July 19, JGL said in a filing with the Zagreb bourse on Wednesday.
Founded in 1991, JGL is one of the largest drug makers in Croatia, specialized in the production of sterile nose, eye and ear drop solutions.
The company's corporate bonds are traded on the Zagreb bourse.
(1 euro = 86.979 Russian rubles)
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