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Croatia's Erste&Steiermarkische raises 300 mln kuna (40 mln euro) via bond sale

Croatia's Erste&Steiermarkische raises 300 mln kuna (40 mln euro) via bond sale Author: Radomir Ralev

ZAGREB (Croatia), November 28 (SeeNews) - Erste&Steiermarkische Bank said it has raised 300 million kuna ($45.6 million/40.5 million euro) from the sale of a five-year fixed-rate bond issue on the Zagreb Stock Exchange.

The bonds bear a coupon of 1.5% and have a fixed yield to maturity of 1.599%, the lender said in a bourse filing on Tuesday.

The issue will mature on November 30, 2023. Interest payments will be due semi-annually.

Earlier this week, the bank invited investors to subscribe for a five-year fixed-rate bond issue in the total nominal amount of up to 500 million kuna.

Austria-based Erste Group Bank AG holds a 59.02% stake in the Rijeka-headquartered Erste&Steiermarkische Bank, while the remainder is owned by Austria's Steiermaerkische Bank und Sparkassen AG.

(1 euro = 7.41588 kuna)

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