April 12 (SeeNews) - Croatian distributor of car parts and accessories CIAK Grupa [ZSE:CIAK] said it is considering to issue bonds on the domestic capital market in the total nominal amount of up to 300 million kuna ($43 million/40 million euro).
CIAK intends to use the proceeds to finance its general corporate needs, including refinancing of existing liabilities, financing of current liabilities, potential acquisitions, financing of investments into equipment and machines, and financing of working capital, it said in a filing to the Zagreb bourse on Monday.
The sustainability-linked bonds will have a one-off principal maturity of up to 5 years.
The company's management decided on April 11 to issue the bonds and list them on the official market segment of the Zagreb Stock Exchange (ZSE), CIAK said. The considered issuance and listing of the bonds shall only be executed subject to acceptable market conditions and subject to obtaining of all regulatory approvals in accordance with the applicable regulations.
CIAK's shares last traded on the ZSE on April 5, closing 5% higher at 42 kuna.
(1 euro = 7.551 kuna)