Croatia's Jadrolinija to borrow 10.7 mln euro to buy ships

Erste&Steiermaerkische Bank will provide a loan of 5.2 million euro ($5.6 million) that will finance 80% of the purchase price of the Danica catamaran, Butkovic told a weekly cabinet session last week, as heard in an audio file published by the government.

Privredna Banka Zagreb will provide the other loan, worth 5.5 million euro, which will cover 80% of the cost of the Kata catamaran.

The loans will have a ten-year maturity and a fixed interest rate of 4.03% per annum.

The company will pay the remaining 20% of the price from own sources. The purchase is in line with Jadrolinija's plans to upgrade its fleet.

Jadrolinija decided to buy the two catamarans from local privately-owned shipping company Tankerska Plovidba for a total of 13.4 million euro after a public tender called in April 2023.

($ = 0.928 euro)