Croatian Telco Metronet To List Commercial Papers Worth 50 Mln Kuna (7.0 Mln Euro)

This is the first tranche of commercial papers issued by the telecommunications company. It was issued on Wednesday and will mature on September 30, 2009, the bourse said in a statement.

Metronet, set up in May 2005, has said it aims to become the country’s leading broadband Internet provider. So far, it has listed corporate bonds on the bourse but its shares are not listed there.

Commercial papers are an unsecured, short-term instrument issued by a corporation, typically for meeting short-term liabilities. More than a dozen Croatian companies currently have their issues of commercial papers listed on the Zagreb bourse.

(1 euro = 7.1088 Croatian kuna)