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Croatia's HEP plans bond sale on domestic market

Author Iskra Pavlova
Croatia's HEP plans bond sale on domestic market Source: Iskraemeco

ZAGREB (Croatia), June 13 (SeeNews) - Croatian state-owned power utility Hrvatska elektroprivreda (HEP) said it is considering issuing debt on the domestic market.

HEP has hired consultants to help it examine the financing possibilities on the Croatian capital market and prepare a bond issue, the company said in a brief filing to the Luxembourg Stock Exchange where its existing bonds are listed.

It added it will make further announcements once a transaction is carried out, as legally required.

In March, S&P upgraded its long-term issuer credit rating on HEP to 'BB+' from 'BB'.

The Croatian government controls 100% of HEP, which has monopoly ownership and operation of the transmission and distribution networks in Croatia.