March 10 (SeeNews) - Croatia's government said it gave initial consent to majority state-owned shipping company Jadroplov [ZSE:JDPL] to take out a $15.2 million (14.3 million euro) loan from state development bank HBOR to buy the country's second liquefied petroleum gas (LPG) vessel.
Jadroplov will finance with its own funds some 40% of the cost of the purchase, or around $9.5 million, while the HBOR loan will cover the remainder, the minister of sea, transport and infrastructure, Oleg Butkovic, told a weekly cabinet meeting on Thursday, as seen in a video recording published on the government's website.
The loan will have a variable interest rate of 6.48% and 10-and-a-half-year maturity.
In November, Jadroplov signed a deal with Swiss company Global One Energy to buy it for $23.5 million. The LPG tanker should be delivered before mid-March, according to a document published on the government’s website.
The company's shares traded 1.68% lower at 11.70 euro intraday on Friday on the Zagreb bourse.
($ = 0.942 euro)