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ZAGREB (Croatia), April 6 (SeeNews) - Croatian state-owned road companies have signed loan deals with eight banks for a total of 1.8 billion euro ($2.2 billion) to refinance road sector debt, the transport ministry said on Friday.
The loan deals were signed by Hrvatske autoceste, Hrvatske ceste and Autocesta Rijeka-Zagreb with lenders Zagrebacka Banka, Privredna Banka Zagreb, Erste, Splitska Banka, Croatian Postal Bank (HPB), Croatia Banka, OTP Banka and Istarska Kreditna Banka, the transport ministry said in a statement.
The loans were arranged by Privredna banka Zagreb and Zagrebacka banka as leading mandate arrangers, bookkeepers and agents.
Of the total loan amount, Hrvatske autoceste will receive 1.14 billion euro, Hrvatske ceste 467 million euro and Autocesta Rijeka-Zagreb 202 million euro.
The loans were approved by the government at its session on March 29, and represent the final step of the financial restructuring of the road sector.
Last year, the government refinanced road sector debt by placing a 1.275 billion euro bond maturing in 2030 on the international market.
Prime minister Andrej Plenkovic said earlier that with the new refinancing, Croatia's road companies will have "practically resolved" 3 billion of the 5 billion euro debt they owe.